SKF Group completes acquisition of Blohm + Voss Industries GmbH
SKF’s acquisition of German-based ship components provider Blohm + Voss Industries (BVI) has been approved by the relevant authorities and is now closed. SKF paid around 80 MEUR for 100% of the equity of BVI and assumed net loans of 18 MEUR. Blohm + Voss Industries is a leading manufacturer and service provider of premium quality equipment for critical marine applications, including shaft components (seals and bearings), stabilizers, and oily water separators. The company has around 400 employees and annual sales of around 100 MEUR with an operating margin in line with the SKF Group.