SKF makes acquisition to strengthen its Condition Monitoring portfolio [Yahoo! Finance]
SKF AB S/ADR (SKFRY)
NASDAQ:AMEX Investor Relations:
skf.com/group/investors/investor-relations
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Source: Yahoo! Finance
The acquisition is a key step for SKF in leveraging digitally enabled reliability solutions to strengthen its end-user and aftermarket presence as well as deepen customer value and engagement across critical industries, including marine, railway, heavy industries, energy, and food and beverage. By acquiring G-Tech, SKF will enhance its condition monitoring offering, one of three priority areas within the Group's service business. G-Tech's advanced diagnostic solutions complement SKF's current portfolio, thereby enabling the development of a single, integrated ecosystem that allows customers to detect issues early, plan proactive maintenance, and improve equipment cost of use, performance and uptime. "An important part of our strategy to reignite growth is value accretive bolt-on M&A. This acquisition delivers that. It also underlines our commitment as a leader to scale our service business through innovative, intelligent solutions, providing customers additional innovative conditi
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