SKF to acquire Kaydon Corporation

Tom Johnstone, SKF president and CEO, commented: "We have followed the development of Kaydon for a long time. They have a strong product portfolio, strong management and a solid financial performance and I am delighted that they will soon be part of the SKF Group. The complementary nature of their products and technologies, their geographical and customer presence and their manufacturing footprint will enable us to even better serve our customers and distributors in the industrial market worldwide.”

Kaydon has three distinct business areas: friction control products (bearings), velocity control products and specialty products, including environmental services. In 2012, the company had sales of USD 475 million, with an adjusted operating profit of around 16% and has over 2100 employees.