SKF Secures Chinese Marine Contract

By Christina Zander

STOCKHOLM--Swedish ball bearing company SKF (SKF-B.SK) said Tuesday it has secured a strategically important contract within the marine segment in China.

The company said it continues to expand its customer base in china as it secures a propulsion shaft component agreement with one of the country's largest ship owners.

"This is a significant win for our marine business in China, where our strategy is to work in closer collaboration with ship operators, expanding from our traditional customer base of original equipment manufacturers and ship yards," said Sales and Marketing Director Ole Kristian Joedahl.

SKF will supply China Oilfield Services Ltd with propulsion shaft components and application engineering services for its new-build fleet of offshore supply vessels. In total, 16 propulsion shafts on eight vessels will be equipped with SKF components.

Shares closed at SEK152.10 on Monday.

Write to Christina Zander at christina.zander@wsj.com

(END) Dow Jones Newswires

December 01, 2015 02:58 ET (07:58 GMT)

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