Acquisition strategy

Acquisitions are an integral part of the profitable growth strategy.

A systematic acquisition process has been established and the

strategic targets are identified

Acquisition criteria:

•

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

• Strong commitment and ownership by acquiring Division.

• EPS accretive in the first full year, positive TVA effect in twoto three years, including amortization of intangible assets.

Opportunities

in most

platforms

and geographies

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)