SKF has signed an agreement to acquire GLO s.r.I and its manufacturing operation in Italy. In 2007 the sales were around EUR 17 million and the number of employees about fifty.

SKF has signed an agreement to acquire GLO s.r.I and its manufacturing operation in Italy. In 2007 the sales were around EUR 17 million and the number of employees about 50. The company manufactures mainly constant velocity joints and drive shafts. GLO is acquired from Metaldyne.

SKF is acquiring GLO to broaden the existing product range and to strengthen its presence primarily for the vehicle aftermarket in Europe. GLO is one of the leading manufacturers in the European automotive aftermarket and has a broad range of products well suited for this market. “GLO is one of the leading manufacturers in the European automotive aftermarket and has a broad range of products well suited for this market,” said Lars Wilsby, head of SKF Global Automotive Aftermarket Operations. “Its commitment to delivering quality products on-time to its customers is a great fit with SKF. We see excellent growth potential for this operation.”

GLO is located in Poggio Rusco, Mantova region in the north-east of Italy. GLO is an indirect wholly-owned subsidiary of Metaldyne Corporation that began production of constant velocity joints in 1978 and was acquired by MascoTech in 1988 before becoming part of Metaldyne in 2000. Proceeds from the sale will be used to pay down debt or for general funding purposes.

SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group’s service offer includes technical support, maintenance services, engineering consultancy and training. SKF is represented in more than 130 countries and has 15,000 distributor locations worldwide. The Group’s annual sales 2007 were SEK 58,559 million. The number of employees was 42,888.

Metaldyne is a wholly owned subsidiary of Asahi Tec, a Shizuoka, Japan-based chassis and powertrain component supplier in the passenger car/light truck and medium/heavy truck segments. Asahi Tec is listed on the Tokyo Stock Exchange. Metaldyne is a leading global designer and supplier of metal based components, assemblies and modules for transportation related powertrain and chassis applications including engine, transmission/transfer case, wheel end and suspension, axle and driveline, and noise and vibration control products to the motor vehicle industry. Headquartered in Plymouth, Mich., Metaldyne has annual revenues of approximately $1.8 billion. The company employs more than 6,300 employees at 33 facilities in 14 countries.