The largest bearing manufacturer in the world, Sweden's SKF, signed an agreement with Ann Arbor, MI-based Kaydon Corporation to acquire the maker of filtration materials for approximately $1.25 billion. The transaction is expected to close in the fourth quarter of 2013. Kaydon is a designer and manufacturer of engineered, performance-critical products supplying a diverse customer base. The company’s segments include Friction Control Products and Velocity Control Products, and Industrial Products. Kaydon's principal products include bearings and components, filters and filter housings, custom rings, shaft seals, linear deceleration and vibration isolation products, specialty balls, fuel cleansing systems, gas-phase air filtration systems and replacement media, industrial presses and metal alloy products. These products are used by customers in a variety of aerospace, defense, specialized robotics, medical, alternative energy, material handling, machine tool positioning, security, electronic and other industrial applications.