Acquisition criteria

•

Strategic fit with clear potential synergies and ability to exploit these in a reasonable timeframe.

•

Strong commitment and ownership by acquiring Division.

•

Cash flow and EPS accretive in the first full year. Including goodwill amortization.

•

Positive TVA effect (covering full cost of capital) in two to three years. Including goodwill amortization.

Acquistition

strategy for profitable growth

Reinforcing existing products, process technologies and market presence.

Creating customer value through integration of electronics, software and application know-how.

Expanding in growing market segments and regions.

Establishing manufacturing in low cost countries in CEE and Asia.

Acquisition

2003-2010 Identifying

gaps and opportunities

in all platforms

SealsBearingsand units

LubricationsystemsServices Mechatronics

Products

Technologies

Geographies

Segments

SNFA

(2006)

S2M

(2007)

QPM

(2008)

Economos

(2006)

Macrotech

(2006)

Macrotech

(2009)

Baker

(2007)

PMCI

(2007)

PB&A

(2006)

Monitek

(2006)

Safematic

(2006)

Vogel

(2004)

ALS

(2007)

Sommers

(2005)

ABBA

(2007)

Jaeger

(2005)

Peer

(2008)

GLO

(2008)

TCM (2003)

Scandrive

(2003)

Cirval

(2008)

Lincoln Industrial

(2010)