This includes the sale of the operations at the SKF sites in St Vallier sur Rhône, France, and Monroe, Washington, in the USA. During 2012, sales from these two sites were around €46 million. The closing is expected in Q2, 2013.
“Our strategy in the aerospace segment is to strengthen our leadership in our core competencies within bearings and seals, and to further develop our composite technology," said Stephane Le-Mounier, director SKF Aerospace. "The divestment of our metallic rods portfolio to PCC supports this strategy. Their focus on complex metal components for the aerospace segment makes this a good fit."
The sale affects around 230 employees in France and roughly 25 workers in the US.
This follows PCC’s acquisition of TIMET in January.
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