By Liz White, UT staff
Gothenburg, Sweden-Seals and bearing manufacturer SKF Group has extended its product range, paying $21 million for a controlling interest-51 percent-in Macrotech Polyseal Inc. a North American maker of polyurethane, elastomer and plastics seals.
Under the agreement, Gothenburg-headquartered SKF will acquire the remainder of Macrotech within three years, the group said in a 6 April announcement.
SKF describes Macrotech as a leader in fluid power seals based on polyurethane and engineered plastics (mainly PTFE- polytetrafluoroethylene) for industrial customers in the US.
The US seal maker, based in Salt Lake City, Utah, has two factories-in Utah and Sao Paulo, Brazil-and 397 employees. Its annual sales are about $33 million.
Macrotech's product range is mainly injection moulded PU hydraulic seals, for customers in the fluid power sector (mainly hydraulics) and for process equipment. Some 95 percent of Macrotech's customers are in North America, according to SKF.
Typical Macrotech products range from rod seals for mobile excavators to valve-stem packing seals for oil production. MPI says its seals are used in fluid-power applications including excavators, backhoe, refuse handling, agricultural equipment, manufacturing equipment, aircraft and vehicle applications.
"This acquisition strengthens SKF's position in industrial seals by bringing to the Group new products and new technologies," said SKF's announcement SKF added that with its geographic range, SKF's global network will also "be able to bring Macrotech's products to markets outside North America."
Macrotech will be part of SKF Sealing Solutions, a unit within the group's Automotive Division that is responsible for development, manufacture and sales of all seals within the group, excluding aerospace seals. "