SKF Group Completes Acquisition of Blohm + Voss Industries GmbH

  SKF Group Completes Acquisition of Blohm + Voss Industries GmbH

Business Wire

GÖTEBORG, Sweden -- February 14, 2013

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.

BVI operations and capabilities have a very strong fit with the SKF marine
strategy and complement SKF’s existing marine product and service range. This
will further establish SKF as a leading supplier of marine sealing
arrangements, and hydrodynamic bearings, which is a significant bearing type
in the marine industry. It will also strengthen SKF’s service capabilities
with a complementary market presence, through subsidiaries inShanghai,Hong
Kong,Singapore, Busan,AndoverandKobeand sales agents and service stations
worldwide.

Blohm + Voss Industries will be integrated into SKF’s marine segment and
report into the business area Industrial Market, Regional Sales and Service.

Gothenburg, 14 February, 2013

Aktiebolaget SKF (publ)

SKF is a leading global supplier of bearings, seals, mechatronics, lubrication
systems, and services which include technical support, maintenance and
reliability services, engineering consulting and training. SKF is represented
in more than 130 countries and has around 15,000 distributor locations
worldwide. Annual sales in 2012 were SEK 64,575 million and the number of
employees was 46,775. www.skf.com

® SKF is a registered trademark of the SKF Group. ™ BeyondZero is a trademark
of the SKF Group.

This information was brought to you by Cision http://www.cisionwire.com

Contact:

MEDIA HOTLINE:
46 31337 2400
or
PRESS:
Rebecca Janzon, Director, Press Relations
tel: 46 31337 3880
mobile: 46 727-173880
e-mail: rebecca.janzon@skf.com
or
INVESTOR RELATIONS:
Marita Björk, Head of Investor Relations
tel: 46 31-337 1994
mobile: 46 705-181994
e-mail: marita.bjork@skf.com
 
Press spacebar to pause and continue. Press esc to stop.