SKF Signs Agreements With Scania Worth $50 Million

SKF's bearings and high pressure valve stem seals will contribute to Scania's development of energy efficient trucks.

GOTHENBURG, Sweden — SKF has signed two agreements with Scania, totalling SEK 360 million ($50 million U.S.), for the supply of wheel bearings and high pressure valve stem seals.

Tryggve Sthen, President, SKF Automotive says, “It is truly rewarding to see our solutions contributing to Scania’s development of energy efficient trucks. This is a result of our long-term engineering partnership with Scania, which is built on shared values. Both companies are committed to the highest levels of sustainability, in the work we do and the solutions we provide.”

These SKF bearings can be assembled quickly and cost-effectively. They also allow for longer maintenance intervals, reducing the total cost of ownership for truck owners. Deliveries will start in Q2 2015.

Part of the SKF BeyondZero portfolio, SKF’s high pressure valve stem seals are designed to withstand the extreme pressure levels generated by modern down-sized and turbo-boosted engines. The solution’s reliability and high performance levels help contribute to improved truck engine efficiency. This agreement is an extension of existing business.

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 2013 were SEK 63,597 million and the number of employees was 48,401.

Latest in Mergers & Acquisitions
More in Mergers & Acquisitions