SKF Strengthens Its Service Business, Acquires US and Australian Companies

SKF Strengthens Its Service Business, Acquires US and Australian Companies SKF has acquired Precision Balancing & Analyzing (PB&A), Mentor, Ohio, USA and Monitek Australia, located in Brisbane, Australia. SKF is paying some SEK 60 million in total. PB&A is specialized in the repair and upgrading of machine tool spindle mechanisms and has 40 employees with annual sales of USD 7 million. PB&A¡¯s activities complement SKF's spindle service operations and improve the geographical coverage of the US market. SKF's global certified spindle service network has now increased to 17 Service Centers, covering most industrialized manufacturing areas worldwide. Monitek is a leading Australian predictive maintenance services company. It is a supplier of high quality vibration monitoring and wear debris analysis in the mining industry. Yearly sales amount to 4.3 Million Australian Dollars and the number of employees is 29. Monitek strengthens SKF's position as a leading provider of Reliability Services to these industries.