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SKF divests coolant pump operations to focus on lubrication business

SKF divests coolant pump operations to focus on lubrication business
Photo courtesy of SKF

SKF is divesting its coolant pump operations to focus on its core lubrication business,  such as automatic lubrication systems and components, lubricants, and  lubrication tools.  

Based in Gothenburg, Sweden, SKF announced on July 12 that it has signed an agreement to divest Spandau Pumpen to  EBARA Pumps Europe S.p.A, a group company of the global industrial machinery  manufacturer Ebara Corporation. Ebara Corporation is a publicly traded manufacturing company based in Tokyo, Japan, which makes environmental and industrial machinery such as pumps and turbines.

Spandau Pumpen is focused on coolant pumps in  SKF’s lubrication business.  

“We are pleased  to sell Spandau Pumpen to EBARA CORPORATION, a dedicated pump manufacturer that  will be able to continue to develop this business. The divestment is another example of the  ongoing pruning of our portfolio, which is an important part of our strategy,” said Thomas Fröst, president, Independent & Emerging Business, SKF.

“It is a good  opportunity for us to acquire Spandau Pumpen, which has a great history and solid brand in  the industry. We are confident in the continuous growth of the business by creating synergy  with our existing world-wide network,” said Minoru Matsushita, managing director, EBARA Pumps Europe S.p.A.

The divestment is expected to close at the end of September 2023. The divestment is  deemed not material on SKF Group’s financials.