Gevorkyan reports acquisition of Altha PM’s customers and production of PM parts for SKF Group
May 21, 2024
Gevorkyan, headquartered in Vlkanová, Slovakia, has reported on its recent agreement with Poland’s Altha Powder Metallurgy and the ongoing transfer of PM part production from Sweden’s SKF Group to Gevorkyan’s manufacturing plant in Vlklanová.
Altha Powder Metallurgy
In April 2024, an agreement between Gevorkyan and Altha Powder Metallurgy, a division of Altha Group based in Radom, Poland, resulted in the acquisition of customers for whom Altha PM was no longer able to serve. The deal did not involve the purchase of any shares in Altha PM – rather, Gevorkyan has taken over the portfolio for a number of its customers and is transferring production of the related products to its manufacturing plant in Vlkanova. The company added that it has since negotiated new and more favourable terms of cooperation with Altha PM’s customers.
Gevorkyan is currently negotiating with the Polish company regarding the purchase of certain assets, including machinery. If they reach an agreement, the machinery would be transferred to Gevorkyan’s plant in Vlkanová to further increase its production capacity.
Working with SKF Group
Gevorkyan also announced that it is continuing to produce Powder Metallurgy parts for Sweden’s SKF Group.
SKF group is one of the largest bearing and seal manufacturers in the world, present in 130 countries. In 2023, it employed over 40,000 people and generated sales of €8.5 billion.
Having established itself as a stable and reliable supplier, SKF Group has entrusted Gevorkyan with the production of several PM components that the group previously produced itself, opting for outsourcing rather than opening a larger plant.
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