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SKF plan to acquire leading French bearing company
SNFA has one manufacturing plant for aerospace bearings located at Valenciennes, outside Paris, employing some 425 people and two plants for manufacturing of high precision bearings located at Turin in Italy and Charfield in the UK. The high precision business employs some 275 people.
SNFA is well known for its high quality, innovative products and strong application engineering. Within aerospace SNFA has a complementary range of products to the existing SKF Aerospace offerings in engine, gearbox, helicopter and airframe bearings. Within the machine tool business, the combination of SKF and SNFA would 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 acquisition is subject to finalization of a definitive share purchase agreement and merger control clearance by the European Commission and the approval by the French Ministry of Economy, required in respect of foreign investments made in certain French business. The acquisition is expected to be finalized in June 2006.
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