Gilman Acquired by SKF
Grafton, WI, June 22, 1999
SKF of Sweden and SKF Precision Technologies announced that SKF
has acquired SKF Precision Technologies of Grafton, WI. SKF Precision Technologies is one of the leading producers of precision machine tool
components in the United States. SKF is the world's largest manufacturer
of precision bearings.
Organizationally, SKF Precision Technologies will become part of SKF's New Industrial
Products Division. This initial step by SKF is part of a strategic
bid to attain a leading position as a global producer of spindles
for industry and provider of spindle service. The high-precision
bearings which SKF manufacturers are a vital part of spindle components
which ensure the efficiency and performance of machine tools.
The relationship between SKF Precision Technologies' spindles and SKF's bearings
is a natural one.
SKF plans to use the SKF Precision Technologies acquisition to help it become a major
player in the international spindle segment. SKF sees potential
for significant growth in this segment, and the initial goal is
to double sales of spindles within the next five years. As a result,
SKF's bearing operations will be strengthened.
SKF Precision Technologies' customer list of 5,000 provides SKF immediate access
to the North American market and includes Boeing Corporation,
Chrysler Corporation, Ford Motor Company, General Electric, General
Motors, Giddings & Lewis, Goodyear, Harley Davidson, Kimberly-Clark
and Lockheed.
SKF is at the forefront of bearing technologies including magnetic,
ceramic and gas bearings, all of which offer attractive and advance
applications for the spindles used in machine tools. This acquisition
means higher production demands for SKF Precision Technologies and involvement in
the development and application of the newest technologies to
spindle, slide and allied machine tool products.
For nearly 100 years SKF has been a world leader in bearing production
and application. SKF has 70 factories in 16 countries and is represented
by its own sales companies and over 20,000 authorized distributors
in over 130 countries. SKF has 50 years experience in commercial
machine tool manufacturing, as well as ball-, roller-, hydrostatic-,
gas- and magnetic bearings.
SKF boasts an international research and development center (NOVA)
for bearing theory, future analysis and lubrication. The SKF and
SKF Precision Technologies combination of engineering, application experience,
on-site services, replacement components, and advanced machining
and testing technology supports unsurpassed quality. SKF Precision Technologies' Spindle Service Center is a fully integrated unit of
SKF's Global Spindle Service Center Network; the company works
closely with SKF's Bearing Service Center.
SKF Precision Technologies will remain in Grafton, WI, where it has been
since 1952.
SKF Precision Technologies, a unit of SKF USA Inc., is an ISO 9001 registered
global supplier of high-precision machine components, including
slides, spindles, customized modular components and index tables.
SKF is one of the world's largest bearing manufacturers with over
70 factories worldwide.
