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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ab Skf | LSE:0NWW | London | Ordinary Share | SE0000108201 | SKF ORD SHS |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 188.80 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Steel Foundries, Nec | 103.88B | 6.4B | 14.0441 | 1.46 | 9.36B |
From May 2023 to May 2024
GOTHENBURG, Sweden, June 29, 2023 /PRNewswire/ -- SKF and Sinoma Nitride, an industry-leading developer and producer of silicon nitride materials and ceramic balls, have entered into a Joint Venture (JV) contract to deepen their cooperation within hybrid ceramic ball bearings. The cooperation is of strategic importance as ceramic bearings is a prioritized emerging technology in SKF's strategy.
SKF will hold a 30% share in the JV, which will produce nitride rolling elements. With the cooperation, SKF and Sinoma Nitride will be able to provide high-quality hybrid ceramic ball bearing products and solutions to customers in a wide range of industries, including Electric Vehicles (EVs) and industrial applications such as precision machine tools. EVs and high-speed machinery are two of the identified high-growth segments in the Group's strategic framework.
Henry Wang, President Industrial Region China and North-East Asia at SKF, says: "By working in a localized production of ceramic balls with Sinoma Nitride, we will have the opportunity to continue to optimize the end-to-end production chain and to accelerate the development of the Electric Vehicle industry."
Weiru Zhang, Chief Scientist of advanced ceramics at China National Building Materials, parent company of Sinoma Nitride, says: "The cooperation with SKF will give us the opportunity to provide more competitive ceramic ball bearings to global bearing users and promote the development of ceramic ball bearings."
Aktiebolaget SKF
(publ)
For further information, please contact:
PRESS: Carl Bjernstam, Acting SKF Media & Press Director
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: carl.bjernstam@skf.com
INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104; patrik.stenberg@skf.com
The following files are available for download:
https://mb.cision.com/Main/637/3795097/2158765.pdf | 20230629 SKF and Sinoma Nitride accelerate large-scale application of hybrid ceramic ball bearings |
https://news.cision.com/skf/i/xxle2827,c3194547 | XXLE2827 |
https://news.cision.com/skf/i/skf-henry-wang,c3195091 | SKF-Henry Wang |
View original content:https://www.prnewswire.co.uk/news-releases/skf-and-sinoma-nitride-accelerate-large-scale-application-of-hybrid-ceramic-ball-bearings-301866714.html
Copyright 2023 PR Newswire
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