Posted August 4, 2011
EnPro Industries acquires PI Bearing
EnPro Industries announced the acquisition of PI Bearing Technologies, a privately held manufacturer of bearing blocks and other bearing products used in fluid power applications.
The acquisition was completed for cash. Terms were not disclosed.
Located in Waukegan, Ill., PI and has 22 employees, and will be managed as part of GGB Bearing Technology, an EnPro Industries company.
"We are very pleased to announce the acquisition of PI," said Steve Macadam, president and chief executive officer of EnPro. "PI's well-respected products and manufacturing technology are strong complements to the products and technologies of GGB's facility in Dieuze, France. We see growing demand for high-performance products used in fluid power applications. With GGB's engineering capabilities, production capacity and global presence, the addition of PI makes GGB a strong competitor in an attractive market."
