SKF Secures Contract from Suzlon to Supply Bearings for Wind Turbines

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Nov 17,2008

SKF India Ltd has entered into an agreement with Suzlon Energy to supply main shaft and slewing bearings for its wind turbines over a period of five years with a total contract value of 303 million euros. This agreement positions SKF strongly in the large size bearings segment. SKF is currently setting up a Large Size bearing facility in Ahmedabad district, India and the unit will start commercial supplies from October 2009. Until then, SKF’s overseas manufacturing facilities will supply the equipment to Suzlon. This agreement makes SKF a strategic partner to support Suzlon's expansion plans SKF currently has three manufacturing facilities in the country, two in Bangalore and one in Pune. When SKF's upcoming Rs 270 crore Ahmedabad facility and Rs 150 crore Haridwar facility become operational, its headcount will go up to 3,200 from the existing 2,600. The manufacturing facility at Ahmedabad will make large-sized industrial bearings for high-growth sectors, including oil and gas, and power. Global Slowdown Impact Media reports quoted SKF chief executive Tom Johnstone as saying that the changing demand situation due to the ongoing global slowdown may result in jobs being cut globally and further restructuring in the December quarter.

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