GOTHENBURG, Sweden — SKF, a supplier of bearing and elastomeric products, has acquired 51 per cent of the shares of the North American seals company Macrotech Polyseal.

As part of the agreement, SKF will acquire the remaining 49 per cent within three years. Macrotech is a leader in fluid power seals based on polyurethane technologies (PU) and engineered plastics for the industrial customers in the U.S. market.

Macrotech is based in Salt Lake City, Utah, with two factories and 397 employees. Yearly sales amount to approximately US$33 million. The purchase price for 51 per cent of the shares of the company was approximately US$21 million.

The product range comprises mainly injection molded PU hydraulic seals. The biggest customer segments are fluid power (mainly hydraulics) and process equipment. About 95 per cent of Macrotech’s customers are found in the North American market.

SKF officials say the acquisition strengthens the company’s position in industrial seals by bringing to the group new products and technologies. Geographically, SKF’s global organization will also be able to bring Macrotech’s products to markets outside North America.

Macrotech will be part of SKF Sealing Solutions, a unit within the automotive division that is responsible for the development, manufacturing and sales of all seals within the group, excluding the aerospace seals.