GOTEBORG, Sweden -- SKF has signed an agreement to acquire GLO s.r.I and its manufacturing operation in Italy. In 2007, GLO had sales of approximately $25 million. The company, which has about 50 employees, manufactures constant velocity joints and drive shafts. SKF is acquiring GLO from Metaldyne.
SKF said the acquisition will broaden its existing product range and strengthen its presence primarily for the vehicle aftermarket in Europe. GLO is located in Poggio Rusco, Mantova region in the north-east of Italy, and is considered a leading manufacturer in Europe’s automotive aftermarket.
The acquisition is subject to certain closing conditions and requires approvals by relevant authorities.
For more information about SKF, visit: http://www.skf.com.
