SKF has signed a memorandum of understanding to acquire the German lubrication company Willy Vogel.
Vogel manufactures centralised lubrication systems for machinery as well as for commercial and rail vehicles.
Its Spandau Pumps division also manufactures specialised liquid pumps for a wide variety of industrial and process-engineering applications.
With annual sales of $129 million, the company has two manufacturing units in Germany, one in France, one in the USA and one in Japan. It has also sales operations in these countries as well as in Belgium, Hungary, Italy, the Netherlands and Spain.
The acquisition of the company, which employs 940 people, is subject to the parties signing a definitive agreement and obtaining the necessary antitrust clearances.