SKF strengthens magnetic bearings offer by acquiring fibre composite company

Rhea-AI Summary

SKF: Acquires 2C Composites, a German high-performance fibre composite supplier, to strengthen magnetic bearings offer. The acquisition secures a leading technology of composite layers, enhancing the Group's magnetic bearings business. In 2022, SKF secured a record order intake for magnetic bearings products of over SEK 1 billion.

Positive

• Acquisition of 2C Composites enhances SKF's magnetic bearings business
• Record order intake for magnetic bearings products in 2022

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• None.

GOTHENBURG, Sweden, Nov. 8, 2023 /PRNewswire/ -- SKF has signed an agreement to acquire 2C Composites, a German high-performance fibre composite supplier. Through the acquisition, SKF will secure the supply of a leading and unique technology of composite layers which will strengthen the Group's magnetic bearings offer.

2C Composites produces tubes, rotors, rolls and braided sleeves by braiding, cutting, and melting both carbon and ceramic fibres in self-developed machineries. The products are used in various applications, for example in the high-speed electric motor industry.

Frédéric Ponson, Director, SKF Magnetic Bearings, says: "This acquisition will help us to further grow and develop our magnetic bearings business. 2C Composites has developed a leading and unique technology of composite layers that, besides strengthening our magnetic bearings offer to existing customers, also has the potential to grow the business with additional promising revenue streams."

Magnetic bearings are one of SKF's technology growth areas. In 2022, the Group secured a record order intake for these products of over SEK 1 billion.

Aktiebolaget SKF

      (publ)

CONTACT:

For further information, please contact:

PRESS: Carl Bjernstam, Head of Media Relations

tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com 

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations

tel: 46 31-337 2104; mobile: 46 705-472 104; patrik.stenberg@skf.com 

The following files are available for download:

https://mb.cision.com/Main/637/3871116/2414109.pdf	20231108 SKF strenghtens magnetic bearings offer by acquiring fibre composite company
https://news.cision.com/skf/i/skf-s2m-magnetic-bearing,c3236522	SKF S2M Magnetic Bearing
https://news.cision.com/skf/i/frederic-ponson,c3236523	Frederic Ponson

 

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SOURCE SKF

What did SKF acquire?

SKF acquired 2C Composites, a German high-performance fibre composite supplier, to strengthen its magnetic bearings offer.

What was the 2022 record order intake for SKF?

In 2022, SKF secured a record order intake for magnetic bearings products of over SEK 1 billion.

What products does 2C Composites produce?

2C Composites produces tubes, rotors, rolls, and braided sleeves using carbon and ceramic fibers, which are used in applications such as the high-speed electric motor industry.