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.
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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.”
