SKF acquires Electromotoren AG

AKF AB (Sweden) announced it has acquired Magnetic Electromotoren AG (Germany), a manufacturer of electromechanical actuators, motors, telescopic drives and control units. With this acquisition, SKF becomes the world's second-largest manufacturer of electrical actuators and actuation systems. It also further diversifies SKF's markets from bearings and more heavily into value-added systems. The company will be absorbed into SKF's Linear Motion & Precision Technologies business unit, part of SKF Industrial.