SKF acquires additive manufacturing company

Rhea-AI Summary

On January 10, 2022, SKF announced the acquisition of Laser Cladding Venture n.v. (LCV), a Belgium-based additive manufacturing company. This strategic move aims to enhance SKF's service and remanufacturing offerings through advanced manufacturing technologies. The acquisition supports SKF's commitment to circular economy principles and reducing the CO2 footprint, positioning the company to meet future customer demand more effectively. The integration of LCV's capabilities is expected to strengthen SKF's overall value proposition in the industry.

Positive

• Acquisition of Laser Cladding Venture n.v. enhances service and remanufacturing capabilities.
• Integration supports SKF's circular economy goals and CO2 footprint reduction.
• Additive manufacturing technologies align with future customer application needs.

Negative

• None.

GOTHENBURG, Sweden, Jan. 10, 2022 /PRNewswire/ -- SKF has completed the acquisition of Laser Cladding Venture n.v. (LCV), an additive manufacturing company based in Belgium.

LCV is a niche engineering start-up specialized in various additive manufacturing technologies and processes, which can be applied to support SKF's service and remanufacturing offering.

Additive manufacturing will play an important role in developing tomorrow's value proposition to support customers' future application needs. In addition, additive manufacturing will facilitate a circular economy approach which supports SKF's ambition to provide solutions that minimizes the overall CO2 footprint.

Aktiebolaget SKF
      (publ)

CONTACT:

For further information, please contact:
PRESS: Carl Bjernstam, Group Communication
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104; patrik.stenberg@skf.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/skf/r/skf-acquires-additive-manufacturing-company,c3482580

The following files are available for download:

https://mb.cision.com/Main/637/3482580/1517854.pdf	20220110 SKF acquires additive manufacturing company
https://news.cision.com/skf/i/gotaholm,c2997968	Gotaholm

View original content:https://www.prnewswire.com/news-releases/skf-acquires-additive-manufacturing-company-301457293.html

SOURCE SKF

FAQ

What is SKF's acquisition of Laser Cladding Venture n.v. about?

SKF acquired Laser Cladding Venture n.v., an additive manufacturing company, to enhance its service offerings and support remanufacturing.

How does the acquisition impact SKF's CO2 footprint?

The acquisition facilitates a circular economy approach, aiming to minimize SKF's overall CO2 emissions.

When was the acquisition of LCV completed?

The acquisition was completed on January 10, 2022.

What technologies does Laser Cladding Venture specialize in?

LCV specializes in various additive manufacturing technologies applicable to SKF's service offerings.

What are the expected benefits of this acquisition for SKF?

The acquisition is expected to strengthen SKF's value proposition and support future customer needs.