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A.T.E. Enterprises to acquire SKF India's Textile Business
27
Sep '11
A.T.E. Enterprises has concluded an agreement to acquire the textile machinery component business from SKF India Ltd. The textile machinery components manufactured by SKF include key products such as high speed spindles, drafting systems and top rollers for ring frames and speed frames. The transaction is expected to be completed in Q1 2012.

SKF will, as part of the divestment of its Textile Business, fully transfer the SKF technology used for manufacturing textile machinery components. A.T.E. will serve all existing and future customers with products manufactured based on SKF technology under the A.T.E. brand, which is synonymous with product reliability, performance and service.

As per the terms of the transfer of business, the manufacturing operation will be shifted to A.T.E.'s new state-of-the art set-up at Ahmadabad, for which building construction is in full swing. Key personnel from different SKF functions will also be transferred to A.T.E. A.T.E. has commenced recruitment of remaining personnel, many of whom are under in plant training at SKF India's Pune plant.

A.T.E. Enterprises

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