Saint-Gobain buys ERIKS Group’s tolerance rings division

Industrial Distribution staff -- Industrial Distribution, 3/4/2008 7:19:00 AM

French building materials manufacturer Saint-Gobain acquired ERIKS Group’s Rencol Tolerance Rings operations for roughly $25 million.

The deal includes the Dutch distributor’s Rencol operations in the United Kingdom and Japan and its 51 percent stake in Singapore’s Rencol MMI Technology Pte.

Tolerance rings are used to connect cylindrical components; Rencol, which posted sales of about $22.5 million last year and employs 120 people, makes and distributes the rings to the hard disk drive and automotive industries.

ERIKS said it made the deal because tolerance rings are not part of its core business. It acquired the Rencol businesses as part of its November 2006 acquisition of Wyko Holdings Ltd.

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