SWEDEN - SKF has signed a memorandum of understanding related to the acquisition of 100% of the shares of SNFA, a leading French bearing manufacturer. SNFA makes aerospace bearings near Paris, France, and high-precision bearings at Turin, Italy, and Charfield, U.K.
SNFA is known for its high quality, innovative products and strong application engineering. Within the machine tool business, the combination of SKF and SNFA will create a full assortment supplier of high precision angular contact ball bearings and high precision cylindrical roller bearings. The combined entity expects to bring additional value to customers within both areas from a manufacturing and technical point of view.
The deal is subject to regulatory approval. (See www.SKF.com.)