Acquisition to strengthen SKF’s presence in Africa
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Company Announcement - SKF South Africa (Pty) Ltd, in its 100th year of presence in South Africa, today signed an agreement to acquire Lincoln Lubrication S.A. (Pty) Ltd., a leading lubrication services provider on the African continent. The transaction is subject to relevant regulatory approvals. Lincoln Lubrication S.A. has been a market leader in the supply of complete lubrication systems and equipment for over 22 years. The company’s three main product lines are automated lubrication systems, hose reels and grease guns, with a focus on grease-based systems.
SKF is a global leader in bearings and engineering solutions. The acquisition forms part of the company’s growth strategy to increase its business footprint in Africa. Alongside lubrication solutions, SKF also sells power transmission products, seals, mechatronics and mechanical and reliability engineering services, supporting its world-class range of bearing products. “The agreement is a perfect fit and part of a natural progression that will take our lubrication offering to another level,” comments SKF S.A. Managing Director, Ian Cilliè.
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