SKF acquires remaining 49% stake in Macrotech Polyseal
May 20, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
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PowerRating -- SKF AB has acquired the remaining 49% stake in Macrotech Polyseal, Inc. for $25 million.
SKF is a Swedish manufacturer and supplier of ball and roller bearings, linear motion products, precision bearings, spindles, and seals. Macrotech is a manufacturer of hydraulic and fluid power seals and engineered plastics for the industrial customers in the US.
Following the transaction, Macrotech was renamed as SKF Polyseal, Inc.
In April 2006, SKF acquired a 51% stake in SKF Polyseal and also agreed to acquire the remaining 49% of the shares within three years.
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