in News Departments > FYI
print the content item

Sweden-based SKF Group has closed its acquisition of Kaydon Corp., a Michigan-based company that, among other things, provides bearings to the wind turbine industry. The merger deal was valued at $1.25 billion, with each share priced at $35.50.

"I am delighted that Kaydon and its employees will be joining the SKF Group. Kaydon brings to SKF a highly complementary product portfolio and an improved customer and geographic presence," says Tom Johnstone, SKF president and CEO.

According to SKF, Kaydon is an industrial manufacturer with three distinct business areas: friction control products (primarily bearings), velocity control products and specialty products, including environmental services. The company has a global footprint, with 62% of its sales generated in North America, 24% in Europe, 12% in Asia Pacific and 2% in the rest of the world.





Trachte Inc._id1770
Latest Top Stories

Eagle Take Permits For Wind Farms - Will They Fly?

Now that the U.S. Fish and Wildlife Service has issued the first permit allowing the legal take of eagles, can wind developers expect more certainty in the agency's application process?


Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.

Renewable NRG_id1934
Canwea_id1984
Tower Conference_id1965