SKF Signs Long-Term Agreement Worth SEK 1.2 Bln With Kaydon Bearings

(RTTNews) - Swedish ball-bearing maker SKF Group (SKFB.L, SKFRY.PK) Friday said it has signed a long-term agreement or LTA with US-based industrial manufacturer Kaydon Corp. (KDN) for about 1.2 billion Swedish Kronor, for Kaydon's slewing ring bearings.

SKF had acquired Kaydon Corp. in end of 2013.

Stephen Curtis, Director, Renewable Energy Business for Kaydon Bearings stated : "Although we initiated the negotiations for this LTA before we were acquired by SKF, the expansion of our global footprint in combination with SKF was a key factor in being awarded this contract. Our complete solution offering can help make wind energy more efficient and cost-effective by increasing reliability, reducing required maintenance, and extending operational life."