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SKF Acquires Austrian Economos

SKF has acquired Economos Austria GmbH from Salzer Holding GmbH. Economos is an Austrian industrial seals company manufacturing hydraulic and pneumatic seals for the oil and gas, food and beverage, pulp and paper, mining and steel industries.

Economos's sales for the year 2005 were close to 70 million Euros and the number of employees was 805. SKF pays 67 million euros on a cash and debt free basis for the company.

Economos has a global presence, with Western Europe being its main market. The company is headquartered in Judenburg in Austria. Economos operates through more than 20 subsidiaries around the world and its extensive distributor network. Economos sealing and engineering plastics solutions will strengthen SKF's market position in industrial seals.

Economos will be part of SKF Sealing Solutions unit, within the Automotive Division.


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