SKF completes acquisition of Tenute Srl

Rhea-AI Summary

SKF has completed its acquisition of Tenute Srl, a company specializing in sealing solutions for industrial applications and employing approximately 50 staff. This acquisition aims to enhance SKF's Seals business, particularly benefiting customers in heavy and process industries. Peter Thorpman, Director of SKF Seals, emphasized the strategic importance of this integration for strengthening their market position.

Positive

• Strengthens SKF's Seals business with enhanced sealing solutions.
• Focus on growth in the heavy and process industries.

Negative

• None.

GOTHENBURG, Sweden, Nov. 9, 2022 /PRNewswire/ -- SKF has completed the previously announced acquisition of Tenute Srl. Tenute develops and manufactures sealing solutions for various industrial applications and has approximately 50 employees. Tenute Srl will be integrated into SKF's existing Seals business.

Peter Thorpman, Director, SKF Seals, says: "We're glad to welcome our new colleagues to SKF. This acquisition strengthens our already leading offer, with a particular focus on customers in heavy and process industries."

Aktiebolaget SKF
      (publ)

For further information, please contact: 

PRESS: Theo Kjellberg, Director, Press Relations
tel: 46 31 337 6576, mobile: 46 725-776576, e-mail: theo.kjellberg@skf.com

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

The following files are available for download:

https://mb.cision.com/Main/637/3663397/1657010.pdf	20221109 SKF completes acquisition of Tenute
https://news.cision.com/skf/i/dji-0735-fix,c3111667	DJI 0735 fix
https://news.cision.com/skf/i/peter-thorpman-dsc4330,c3111744	Peter Thorpman DSC4330

View original content:https://www.prnewswire.com/news-releases/skf-completes-acquisition-of-tenute-srl-301672705.html

SOURCE SKF

FAQ

What company did SKF acquire?

SKF acquired Tenute Srl, a developer of sealing solutions.

When was the acquisition of Tenute Srl completed?

The acquisition was completed on November 9, 2022.

What is the significance of the SKF and Tenute Srl acquisition?

The acquisition is aimed at strengthening SKF's position in the sealing solutions market, especially for heavy and process industries.

How many employees does Tenute Srl have?

Tenute Srl has approximately 50 employees.

What impact will the acquisition have on SKF's operations?

The acquisition will enhance SKF's sealing solution offerings and expand its market presence.