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SKF Has Signed a Sek5.2bn ($756.56m) Contract with CNHTC

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Core Tip: SKF, a supplier of bearings, seals, mechatronics, services and lubrication systems, has signed a SEK5.2bn ($756.56m) contract with China National Heavy Duty Truck Group (

SKF, a supplier of bearings, seals, mechatronics, services and lubrication systems, has signed a SEK5.2bn ($756.56m) contract with China National Heavy Duty Truck Group (CNHTC), a China-based truck manufacturer.

As per the contract SKF will supply Truck Hub Units, tapered roller bearings, and seals for CNHTC's latest truck models.

The bearings and units will be built in the new SKF factory currently under construction in Jinan, Shandong Province, China.

The investment for the new 16,000 sq m facility amounts to around SEK590m ($85.84m) and will be fully operational by the first half of 2012, with about 500 employes.

The company said that the seals will be produced in its factory in Wuhu, Anhui Province, China.

SKF president and CEO Tom Johnstone said China is a key growth market for the company and it continues to make significant investments in manufacturing, research and development and in its employees.

"We are committed to supporting our customers in China and the steps we are taking are in line with the relevant priorities in China's 12th Five-Year Plan," Johnstone said.

"We will open yet another new factory in Jinan in early 2012 and it will play an important role in supplying some of our products to China National Heavy Duty Truck Group, as well as other truck and trailer manufacturers in China."

CNHTC president Cai Dong said SKF is a frontrunner in the areas of reduced life-cycle costs and maintenance-free solutions.

"They contribute with valuable innovative solutions for efficient and sustainable mobility," Dong said.

 
Keyword: SKF, Contract, CNHTC
 
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