SKF strengthens magnetic bearings offer by acquiring fibre composite company
Gothenburg, 8 November 2023: SKF has signed an agreement to acquire 2C Composites, a German high-performance fibre composite supplier. Through the acquisition, SKF will secure the supply of a leading and unique technology of composite layers which will strengthen the Group’s magnetic bearings offer.
2C Composites produces tubes, rotors, rolls and braided sleeves by braiding, cutting, and melting both carbon and ceramic fibres in self-developed machineries. The products are used in various applications, for example in the high-speed electric motor industry.
Frédéric Ponson, Director, SKF Magnetic Bearings, says: “This acquisition will help us to further grow and develop our magnetic bearings business. 2C Composites has developed a leading and unique technology of composite layers that, besides strengthening our magnetic bearings offer to existing customers, also has the potential to grow the business with additional promising revenue streams.”
Magnetic bearings are one of SKF’s technology growth areas. In 2022, the Group secured a record order intake for these products of over SEK 1 billion.
Aktiebolaget SKF
(publ)
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PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com
INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104; patrik.stenberg@skf.com
SKF is a world-leading provider of innovative solutions that help industries become more competitive and sustainable. By making products lighter, more efficient, longer lasting, and repairable, we help our customers improve their rotating equipment performance and reduce their environmental impact. Our offering around the rotating shaft includes bearings, seals, lubrication management, condition monitoring, and services. Founded in 1907, SKF is represented in approximately 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2022 were SEK 96,933 million and the number of employees was 42,641. www.skf.com
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