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.




Mortenson Construction_id2024

Trachte Inc._id1770
Latest Top Stories

Canadian Wind Industry Urges For More Federal Support

The Canadian Wind Energy Association says the country's federal government, once a big industry supporter, should again back wind power.


Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.

Canwea_id1984
Renewable NRG_id1934
BG 2015DblBox_id2032
Hybrid Energy Innovations 2015