Three-year contract for delivery of bearings to Scania production inBrazil
Regulatory News:
SKF (STO:SKFA)(STO:SKFB)(Pink Sheets:SKFRY)(LSE:SKFB):
SKF today announced they have signed a three-year contract with Scania worth around SEK 150 million. The contract involves the delivery of SKF bearings for truck wheel end units and transmissions to Scania production facilities in Brazil.
"Brazil is a fast developing and very important market for SKF. We have invested heavily in our business to support our customers and only last year extended our factory in Cajamar to manufacture hub bearing units for cars," says Tom Johnstone, SKF President and CEO. "This very important contract with Scania means that we will now further invest in Brazil for the manufacturing of bearings for the truck industry, improving our ability to support our customers with local manufacturing."
Initial delivery of the components will be from Europe, but beginning later in 2012, SKF will manufacture them locally in their factory located in Cajamar, Brazil.
Gothenburg, 07 February 2012
Aktiebolaget SKF (publ)
SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2011 were SEK 66,216 million and the number of employees was 46,039. www.skf.com
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