SKF sells its machine tool manufacturer to KMT

SKF sells its machine tool manufacturer to KMT SKF has decided to sell its machine-tool manufacturer LMT, Lidköping Machine Tools AB, in Lidköping Sweden, to KMT - Karolin Machine Tool AB. LMT is a world leader in the manufacture of grinding machines. With the acquisition KMT strengthens its position within the product area precision grinding. The sale, which is part of SKF's strategy to reduce its vertical integration and thus the amount of its capital employed, will reduce the company's assets by approximately MSEK 300. The sales price, including taking over of loans, is somewhat over MSEK 100. KMT, which is listed on the Stockholm Stock Exchange and has about 500 employees, reported sales of MSEK 1 000 for 1999. KMT specializes in the development, marketing and manufacture of sophisticated machines, equipment and systems for the engineering industry. LMT, which has some 300 employees and estimated annual sales of approximately MSEK 350, has supplied SKF and other customers with state- of-the art machine tools for many years. SKF will continue to buy machine tools from LMT also in the future. An agreement on technical cooperation and on the supply of machine tools to the SKF Group is part of the deal. Göteborg, April 3, 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 For further information see also www.skf.com www.lidkoping.com and www.kmt.se 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/2000/04/03/20000403BIT00080/bit0001.doc http://www.bit.se/bitonline/2000/04/03/20000403BIT00080/bit0002.pdf