SKF Acquires PEER Bearing Co.

SKF has signed an agreement with the owners of PEER Bearing Company, Waukegan, IL, to acquire PEER and its manufacturing operations in China and Thailand, a company news release said.

SKF said they are acquiring PEER to strengthen their presence in North America in certain segments, not currently served by SKF, such as Lawn & Garden and Mechanical Power Transmission.

PEER will continue to operate as a stand alone business, acting independently on the market under its existing brand PEER.  The acquired manufacturing plants are located in Xinchang and Changshan, China and Rayong, Thailand.

The SKF Group is a supplier of rolling bearings, seals, mechatronics, services and lubrication systems.  SKF  is organized into three divisions; Industrial, Automotive and Service. Each division serves a global market, focusing on its specific customer segments.  SKF has 110 manufacturing sites distributed all over the world and its own sales companies in 70 countries.