SKF acquires Baker Instruments
SKF has acquired Baker Instruments Co., Ft Collins, CO, a manufacturer of test and diagnostic instruments for electric motor assessment.
SKF has acquired Baker Instruments Co., Ft Collins, CO, a manufacturer of test and diagnostic instruments for electric motor assessment. The condition monitoring technologies used by SKF to date are based on measurement of mechanical properties, principally via vibration and lubrication analysis.
"This move into electric motor diagnostics is important to our new Energy Efficiency solutions business, and is in line with SKF Group's move towards supporting our customers in their Sustainability efforts," said Phil Knights, president of SKF Service Division.
Baker has 62 employees and annual sales of $11 million. Baker's sales are focused primarily on American industrial motor users.
SKF paid $14 million for the company, on a cash and debt-free basis. Baker will be part of SKF Reliability Systems within the Service Division.
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Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey