|[January 13, 2014]
SKF Reaches SEK 370 Million Agreement with Hyundai Motors
GÖTEBORG, Sweden --(Business Wire)--
SKF (STO:SKFA) (STO:SKFB) has been nominated by Hyundai Motors as a
supplier for business valued at approximately SEK 370 million. Within
the terms of the agreement, SKF will deliver the recently launched
robust MacPherson suspension bearing unit (MSBU). The solutions will be
equipping both Hyundai and Kia vehicles like Ceed, Forte, Soul, i30,
Sonata, K5, i40, Grandeur, K7, Santa Fe and Sorento. The length of the
business is expected to last the life of each car model.
Tryggve Sthen, President, SKF Automotive says, "I am very pleased to see
our expanding partnership with Hyundai for the steering and suspension
application with our recently launched robust solutions. Our engineering
knowledge supports our customers in their journey to improve the
performance of their vehicles. It is rewarding to have this recognition
from Hyundai and I look forward to a continued growing partnership."
Byeong-Jun Kim, Purchasing Director, Hyundai Motors says, "Working with
SKF, we know we get the advanced and high performing solutions we need
for our vehicles to reach the top of the line. Hyundai have grown
tremendously over the last years globally, and we recognize that SKF's
global engineering and manufacturing footprint is a highly valuable
support to us in our continued growth. We are pleased to work with SKF
as we also have their timely and skilled support close to us in Korea
and we look forward to continued growth with SKF."
The new robust MSBU meets the increased performance demands in terms of
higher reliabiliy and increased operating life. Global car models must
cope with a wider range of external forces in different driving
conditions. This unit is able to support high load and withstand severe
pollution with improved reliability.
SKF started deliveries of the MSBUs during 2013 from their factory in
Aktiebolaget SKF (publ)
SKF is a leading global supplier of bearings,
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 2012 were SEK 64,575 million and the number of employees was
® SKF is a registered trademark of the SKF Group. ™ BeyondZero is a
trademark of the SKF Group.
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