Gteborg, Sweden — April 24, 2002 — SKF’s acquisition of 75 per cent of the shares in NSK Aerospace Europe Ltd. at Stonehouse in UK has now been finalized. The agreement is signed and SKF will take over the operations on May 1, 2002.
The company, whose name will now be changed to Aeroengine Bearings UK, designs, manufactures and sells bearings for main shafts and gearboxes for jet engines. The main customer is Rolls Royce.
The company has some 260 employees, and annual sales total about 230 million SEK.