SKF AB (Sweden) has acquired a 51% stake in U.S. seal manufacturer Macrotech Polyseal Inc. (MPI) for approximately USD $21 million.
Founded in 1973, MPI produces is a leader in fluid power seals based on polyurethane technologies and engineered plastics (primarily PTFE), targeting industrial customers in North America. Sales in 2005 were approximately $33 million.
MPI's product line is varied, with a wide array of molded and lathe-cut seals and sealing products, including dozens of types of rod seals, piston seals, buffer seals, rod wipers, and manifold seals.
The company also manufactures glass-filled reinforced Nylon bearings / wear rings.
MPI's 11 types of rod seals include the Spectraseal brand, 15 types of piston seals include the Capped T Seal and Crown Seal brands, 4 types of rod buffer seals, 8 types of rod wipers, and one rotary manifold seal. In addition, MPI produces a wide range of custom designs and applications, and recently added DuPont Viton as another fluoroeslastomer option.
MPI can manufacture seals in sizes from 1/16" through 50" diameter, and application temperatures can range from -400°F to over +550°F.
With two ISO9001-certified manufacturing facilities and 397 employees in the Salt Lake City area, MPI has more than 150,000 square feet of manufacturing capacity.
In all, Macrotech manufactures over 30 million seals each year, covering over 50,000 part numbers.
SKF made the acquisition through its SKF Sealing Solutions, Americas subsidiary, within its Automotive Division, and has committed to acquiring the remaining 49% of Macrotech Polymer within three years.
In its release, SKF said: "This acquisition strengthens SKF's position in industrial seals by bringing to the Group new products and new technologies. Geographically, SKF's global organization will also be able to bring Macrotech's products to markets outside North America." Currently, 95% of MPI's customers are in North America.
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