SKF acquires cleantech start-up company
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<span style="color:#000000;font-family:Arial;font-size:12px;">Acquisition of RecondOil Sweden AB, a cleantech company working with lubrication fluid and oil filtration will strengthen SKF¡¯s lubrication offer</span>
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<span style="color:#000000;font-family:Arial;font-size:12px;">SKF has acquired RecondOil Sweden AB, a Swedish cleantech start-up that has developed a chemical filtration and rejuvenation process for industrial lubrication fluid and slop oil.</span>
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<span style="color:#000000;font-family:Arial;font-size:12px;">RecondOil¡¯s turnover in 2017 was SEK 10 million and the acquisition will strengthen the Group¡¯s lubrication management business and rotating equipment performance offer.</span>
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<span style="color:#000000;font-family:Arial;font-size:12px;">Alrik Danielson, President and CEO, says: ¡°This acquisition is a good strategic fit for us. It complements our existing offer around the rotating shaft and will strengthen our ability to offer customers a fee-based value proposition, in which lubrication management systems play an important role.¡±</span>
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<span style="color:#000000;font-family:Arial;font-size:12px;">¡°The acquisition is also in-line with our ambition to develop and offer solutions that help customers reduce the environmental impact of their own operations. By bringing together RecondOil¡¯s technology with SKF¡¯s scope and industrial expertise, we will be able to industrialize this offering.¡±</span>
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27 Jun,2019
