Citation
(2002), "SKF buy majority in NSK Aerospace bearing business", Aircraft Engineering and Aerospace Technology, Vol. 74 No. 4. https://doi.org/10.1108/aeat.2002.12774dab.023
Publisher
:Emerald Group Publishing Limited
Copyright © 2002, MCB UP Limited
SKF buy majority in NSK Aerospace bearing business
NSK Ltd. has signed a letter of intent with AB SKF, Sweden that will result in 75 per cent of the shares in NSK Aerospace Europe Ltd. Stonehouse, UK, being transferred to SKF. The unit designs and manufactures and sells mainshaft and gearbox bearings for jet engines and. employs over 260 people.
Once the agreement is concluded the company will change its name to Aeroengine Bearings UK. The letter of intent also stipulates that SKF will acquire the remaining 25 per cent of the shares in 2005.
NSK informs us that it is focusing its resources on further strengthening its core business areas within Europe. It believes that the two stage agreement will help achieve a smooth transition for Aerospace customers and strengthens its position as a supplier to European aeroengine manufacturers.