SKF Group acquires DEI as it expands its Service activities

SKF Group acquires DEI as it expands its Service activities The SKF Group has acquired Development Engineering International (DEI), a highly regarded maintenance engineering consultancy company based in Aberdeen, Scotland. The company, which has a turnover of some MSEK 80 and employs 70 staff, is a pioneer of condition monitoring and condition based maintenance in the offshore oil and gas industry. DEI is also active in other industries, developing maintenance strategies for plant and equipment worldwide. "The acquisition of DEI will contribute to the total service that SKF is offering customers by merging the total solution competencies of SKF with the specialised diagnostic expertise of DEI," says Phil Knights, President of SKF Service Division. SKF has built a strong reputation in providing product and engineering solutions to problems in rotating, and related equipment, by supplying components as well as a highly skilled field service engineering capability. DEI has specific competencies and sound track record in condition based maintenance. These qualities will support SKF in bringing its Integrated Maintenance Solutions to customers in maintenance and repair operations. This acquisition is part of SKF's strategy to expand into the outsourced services market by selling not only bearings and seals but also mechanical services, preventive and predictive maintenance, condition monitoring solutions, in order to provide total life cycle management. The benefit to customers is improved plant reliability, which in turn raises their productivity levels and improves their competitiveness. Göteborg, January 11, 2000 Aktiebolaget SKF (publ.) For further information, please contact: Lars G Malmer, SKF Group Communication, tel +46-31-3371541, e-mail: Lars.G.Malmer@skf.com Aktiebolaget SKF, SE-415 50 Göteborg, Sweden, tel +46-31-3371000, fax +46- 31-3372832, www.skf.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/11/20000111BIT00380/bit0001.doc http://www.bit.se/bitonline/2000/01/11/20000111BIT00380/bit0003.pdf