Schaeffler Group has acquired Latvian coating systems company SIA Naco Technologies in Riga.

SIA Naco Technologies was founded in Latvia’s capital in 2010 with the support of ‘Commercialisation Reactor Riga,’ an agency and marketing platform for science-based young businesses.

Companies involved as investors and developers were Imprimatur Capital, ZGI Capital and Proks Capital.

The specialists from Latvia have developed what is currently the fastest process for physical vapour deposition (PVD), which will complement Schaeffler’s high-tech vacuum facilities for PVD and plasma-based PACVD processes, which are used in high-volume production.

“It [acquisition] underlines our claim to technology leadership in coating technology,” said Schaeffler deputy CEO and CTO, Peter Gutzmer. “Our experts are especially important in ensuring the implementation of value adding steps essential for quality, functions and costs for important products and components.

“By acquiring Naco, we have secured the experience and expertise of a scientist highly renowned in the scientific community, five highly-trained specialists and an innovative prototype PVD facility.”