SKF Bearings Successfully Purchased PEER Bearings

SKF Bearings Company with Pierre (Pierre) Bearing all signed an agreement to purchase Peel production bases located in China and Thailand. This company's main products is deep groove ball bearings (DGBB) and Tapered Roller Bearings (TRB).
PEER is a US-based bearings company and its products are mainly sold to North American market. The company's 2007 annual sales is nearly 100 million U.S. dollars, with 1400 employees at present .
Through the acquisition of PEER, SKF bearings will enter a certain industry in North America which they hasn’t set feet yet, such as mowing, gardening industry and mechanical power transmission industry. Throught this, further strengthen SKF itself in North American market. PEERwill be serve as an independent business.
The factories of the acquisition are located in Xinchang and Changshan in China and Rayong, Thailand.
The acquisition will be officially completed after all the conditions riped and then submitted to the relevant functional departments of the Government.