SKF Acquires RecondOil

Noria news wires

SKF recently announced that it has acquired RecondOil, a Swedish start-up company that specializes in remanufacturing technologies for the sustainable use of industrial lubricants. The acquisition is expected to help strengthen SKF’s lubrication management business and rotating equipment performance offering.

RecondOil, which reported net sales of more than $1 million in 2017, has developed a chemical filtration and rejuvenation process for industrial lubrication fluid and slop oil. The process allows for continuous separation and removal of impurities in lubricants.

“This acquisition is a good strategic fit for us,” said Alrik Danielson, SKF president and CEO. “It complements our existing offer around the rotating shaft and will strengthen our ability to offer customers a fee-based value proposition in which lubrication management systems play an important role. The acquisition is also in line with our ambition to develop and offer solutions that help customers reduce the environmental impact of their own operations. By bringing together RecondOil’s technology with SKF’s scope and industrial expertise, we will be able to industrialize this offering.”

A leading supplier of bearings, seals, mechatronics, lubrication systems and services, SKF is represented in more than 130 countries and has approximately 17,000 distributor locations worldwide.

For more information, visit www.skf.com.

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