Connect with us

Manufacturing

SKF Acquires Austrian Industrial Seals Company

SKF and Salzer Holding GmbH, owners of the Austrian industrial seals company Economos Austria GmbH, have signed a Memorandum of Understanding for SKF to acquire 100 percent of the shares in Economos. The acquisition brings new technologies to SKF and a complementary product range to the group’s existing seals range. Economos will become part of SKF Sealing Solutions, a unit within the Automotive Division.

Advertisement

GOTHENBURG, SWEDEN — SKF and Salzer Holding GmbH, owners of the Austrian industrial seals company Economos Austria GmbH, have signed a Memorandum of Understanding for SKF to acquire 100 percent of the shares in Economos.

Advertisement
Click Here to Read More
Advertisement

The acquisition brings new technologies to SKF and a complementary product range to the group’s existing seals range.

Economos manufactures hydraulic and pneumatic seals for the oil and gas, food and beverage, pulp and paper, mining and steel segments. Economos’ main manufacturing site is in Austria, and it also machines seals in key local markets.

Economos Group sales for the year ending December 2005 were approximately $97 million. Headquartered in Judenberg, the company has a global presence, with Western Europe being its main market.

Economos will become part of SKF Sealing Solutions, a unit within the Automotive Division. The company employs just under 900 people.

_______________________________________

Click here to view the rest of today’s headlines.

Advertisement

Elgin Introduces Muscle Car Steering Kits

Gentex Recognized By GM As A 2019 Supplier Of The Year Winner

Dana Unveils New Electric Motor, Drive Axle For Lift Trucks

Eaton's Vehicle Group Navigates COVID-19 Pandemic

Advertisement

POPULAR POSTS

Newsweek Ranks Goodyear Among Greenest Big Companies

Sponsored Content

Why Trucks Are The Future Of The Aftermarket Sweet Spot

Events

Editor’s Note: AMN On Holiday

Legislative

VA Gov. Signs Vehicle Safety Inspection Program Legislation

Connect