SKF to Buy Austrian Industrial Seals Co.
SKF has signed a Memorandum of Understanding to acquire Austrian industrial seals company Economos Austria GmbH from Salzer Holding GmbH. Economos will be part of SKF Sealing Solutions, a unit within the Automotive Division.
Economos Group sales for the year ending December 2005 were 77 million Euros (US$97.7 million) with 899 employees. Economos's main market is Western Europe. Economos manufactures hydraulic and pneumatic seals for the oil and gas, food and beverage, pulp and paper, mining and steel segments. These seals are made from a variety of materials including advanced plastics.
Economos' main manufacturing site is in Austria, and it also machines seals in key local markets. This approach has made Economos successful in the ...