SKF Secures SEK 100 Million Contract Extension with Russian Rail Freight Company

Regulatory News:

SKF has secured a one-year contract extension, worth approximately SEK 100 million, with JSC Tikhvin Freight Car Building Plant, a subsidiary of Research and Production Company United Wagon Company (RPC UWC), a Russian railway holding company.

As part of the extended agreement, which is now entering its third year, SKF will supply Compact Tapered Roller Bearing Units (CTBU) manufactured at its factory in Tver, Russia, as well as maintenance support and remanufacturing services.

Erik Nelander, President, Industrial Sales, Europe and MEA, says: “The renewal of such a significant contract is an illustration of our ability to generate value for original equipment manufacturers by offering solutions that contribute to an overall improved life-cycle cost efficiency. It is exciting to see our technologies playing such an important part of continued local development of innovative freight car solutions in Russia.”   

RPC UWC is an integrated provider of services in engineering, manufacturing, transportation, operating, leasing, and maintenance of new generation railway freight cars. SKF’s CTBUs will be used in the production of higher capacity freight cars, enabling increased efficiency and reliable field performance.  

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 17,000 distributor locations worldwide. Annual sales in 2015 were SEK 75 997 million and the number of employees was 46 635. www.skf.com

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