SKF strengthens magnetic bearings offer by acquiring fibre composite company

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20231108/1699447189769279.png" title="1699447189769279.png" alt="1.png"/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">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.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">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.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">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.”</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">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.</span></p><p><br/></p>