ERIKS have signed an agreement with The Timken Company for the sale of the Trade and Business assets of Revolvo Ltd.
Revolvo, based in Dudley, is a specialist manufacturer of split roller bearings and special ball and roller bearings for industrial applications in process industries, power generation, mining, cement and marine. It has been a part of the ERIKS UK operation for many years and the Group has benefitted from its contribution throughout that time.
The Board now feel that the strategic direction ERIKS is undertaking does not enable the full development of the Revolvo business potential and has accepted an offer from The Timken Company who are an established manufacturer and seller of a wide range of bearings throughout the world. The Timken Company has a growth strategy of adding to its product portfolio and the acquisition of Revolvo complements the strategy in its bearing product offering.
The Board acknowledge with thanks the efforts of all employees over the past years and wish them every success for the future.