SKF has signed a US$752m deal with China’s China National Heavy Duty Truck Group as the bearings maker looks to expand in the fast-growing markets.
The Swedish company said the seven-year deal would see it supply truck hub units, tapered roller bearings and seals for models produced by, China’s largest commercial vehicle manufacturer.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The bearings and units will be manufactured in a factory under construction in Jinan, Shandong.
SKF chief executive Tom Johnstone said: “China is a key growth market for the Group and we continue to make significant investments in manufacturing, research and development and in our employees.”
