Date: 2013-08-01

Bearings Maker SKF Says Buys Italy's GLO

SKF has signed an agreement to acquire GLO s.r.I and its manufacturing operation in Italy. In 2007 the sales were around EUR 17 million and the number of employees about 50. The company manufactures mainly constant velocity joints and drive shafts. GLO is acquired from Metaldyne.

SKF is acquiring GLO to broaden the existing product range and to strengthen its presence primarily for the vehicle aftermarket in Europe. GLO is one of the leading manufacturers in the European automotive aftermarket and has a broad range of products well suited for this market.

GLO is located in Poggio Rusco, Mantova region in the north-east of Italy.

The acquisition is subject to certain conditions of closing and requires approvals by relevant authorities.

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