General Bearing Corp. today announced the signing of an agreement whereby Swedish-based SKF will acquire General Bearing Corporation and its subsidiaries, including interests in its four manufacturing sites in China. The purchase price of about $28 per share, all cash, represents an aggregate enterprise value of $125,000,000.
General Bearing will operate as an independent subsidiary within the SKF Group and continue to provide customers with General and Hyatt brand products. General Bearing makes ball bearings, tapered roller bearings, spherical roller bearings, cylindrical roller bearings, and bearing components.
to Daily News