Carco PRP Group to acquire the Elgin precision elastomeric device operations of SKF for $70m.

Carco PRP Group, a machinery parts manufacturer in Italy, agreed to acquire the Elgin precision elastomeric device operations of SKF, a Swedish bearing and seal manufacturing company, for $70m. "The Hanover and Elgin divestments are examples of our ongoing efforts to execute on our strategy and manage our portfolio to accelerate profitable growth. With this agreement, Elgin will be in a good position to develop its business even further, while we can focus on driving innovation and growth in our remaining core aerospace business," Thomas Fröst, SKF President, Independent and Emerging Business.