GOTEBORG, Sweden, Jan. 8, 2002 (PRIMEZONE) -- The SKF Group has sold its European Distribution Center in Tongeren, Belgium to Belgium-based real estate company Leasinvest. The premises sold include 26 000 m2 of offices and warehouses.
The sale price was 13.4 million euro, which corresponds approximately to the book value. At the same time SKF signed a rental agreement with the purchasing company.
SKF Logistics Services will continue to operate the premises and serve SKF and external customers with warehousing and distribution as before.
The sale is part of the SKF Group's program to reduce the amount of capital tied up in operations.
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