SKF acquires Taiwanese company in linear motion
Gothenburg, Sweden -- SKF has signed an agreement to acquire ABBA Linear Tech Co. Ltd., an Asian manufacturer of pr...
Gothenburg, Sweden — SKF has signed an agreement to acquire ABBA Linear Tech Co. Ltd., an Asian manufacturer of profile rail guides, based in Taipei, Taiwan. ABBA is currently listed on the emerging companies’ exchange of the GreTai Securities Market in Taiwan.
The ABBA Group employs about 400 people. It has facilities in Taiwan and in China.
With the addition of ABBA’s product range, SKF is reinforcing its position in linear guides. The acquisition is in line with the SKF Group’s strategy to strengthen its different technology platforms and to grow in Asia.
ABBA will be part of the SKF Actuation & Motion Control business unit within the Industrial Division.
The acquisition is subject to the successful completion of a tender offer by ABBA’s controlling shareholder and relevant regulatory approvals. The transaction is expected to be finalized during the second quarter of 2007.