SKF acquires US linear motion company

SKF acquires US linear motion company SKF has acquired Twentieth Century Machine Co., TCM, a US manufacturer of ground ball screws. The acquisition was effective December 31, 2002. TCM has 70 employees and sales in 2002 were 65 MSEK. TCM, is located in the Detroit area in Michigan, USA and serves primarily the machine tool market in USA and Canada. SKF will now be able to offer complete ground ball screw packages and solutions locally made in North America. - TCM will become part of and strengthen the SKF Linear Motion & Precision Technologies business unit, says Christer Gyberg, President of SKF Industrial Division. - In addition to design and manufacturing expertise, TCM also offers multi-brand ball screw repair, which enhances our recently launched full- service capabilities. With this acquisition, SKF expands the number of ball-screw manufacturing facilities to four: Turin, Italy; Chambery, France; Beaufort, France; and Detroit in the United States. The acquisition reflects the SKF Group's strategy to grow through acquisitions and expand businesses with higher value added. Göteborg, January 10, 2003 Aktiebolaget SKF (publ.) For further information, please contact: Lars G Malmer, SKF Group Communication, tel. +46 (0)31 337 1541, e-mail: Lars.G.Malmer@skf.com Poul Jeppesen, SKF Linear Motion & Precision Technologies, 1530 Valley Center Parkway, Bethlehem, PA 18017-2266. Phone: 610-861-3707 or Poul.Jeppesen@SKF.com Aktiebolaget SKF, SE-415 50 Göteborg, Sweden, tel. +46 (0)31 337 1000, fax +46 (0)31 337 2832, www.skf.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/01/10/20030110BIT00300/wkr0001.doc http://www.waymaker.net/bitonline/2003/01/10/20030110BIT00300/wkr0002.pdf