The industrial giant SKF has decided to sell its aircraft business that "does not belong to the core business" for 220 million dollars, equivalent to 2.3 billion kronor, the company writes in a press release.
What is referred to is the sale of the company's ring and sealing business in Hanover, Pennsylvania, USA, to Carco Group, through its American subsidiary within the aircraft business, PCTI.
"With a new owner, I am confident that Hanover will be able to continue providing customers with high-quality solutions. The aerospace industry is still one of our largest customer industries and we will continue to invest and strengthen our position in prioritized aerospace segments," says Rickard Gustafson, CEO and President.
The sale of the business in Hanover is expected to be completed during the first quarter of next year, pending approval from the authorities.
