SKF strengthens magnetic bearings offer by acquiring fibre composite company

GOTHENBURG, Sweden, Nov. 8, 2023 /PRNewswire/ -- SKF has signed an agreement to acquire 2C Composites, a German high-performance fibre composite supplier. Through the acquisition, SKF will secure the supply of a leading and unique technology of composite layers which will strengthen the Group's magnetic bearings offer.

2C Composites produces tubes, rotors, rolls and braided sleeves by braiding, cutting, and melting both carbon and ceramic fibres in self-developed machineries. The products are used in various applications, for example in the high-speed electric motor industry.

Frédéric Ponson, Director, SKF Magnetic Bearings, says: "This acquisition will help us to further grow and develop our magnetic bearings business. 2C Composites has developed a leading and unique technology of composite layers that, besides strengthening our magnetic bearings offer to existing customers, also has the potential to grow the business with additional promising revenue streams."

Magnetic bearings are one of SKF's technology growth areas. In 2022, the Group secured a record order intake for these products of over SEK 1 billion.

Aktiebolaget SKF

      (publ)

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For further information, please contact:

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INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations

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