German auto parts maker SKF has won a new contract for the supply of tapered roller bearings to Chinese company Fuwa, in addition to a contract for seals awarded at end-2008, The new contract is valid for three years and is worth up to $4.5 million per year.
''Fuwa supplies trailer axles to both Chinese and international manufacturers. As Fuwa's export business has grown, the interest for higher performance bearings has increased. These tapered roller bearings will be used for trailer axles for export to markets with higher performance demands,'' SKF said in a release.
''SKF can truly support us on a global basis for our new product development such as steer axles. Fuwa feels to be in very good hands in cooperating with SKF developing our global expansion," Zhiqiang Wu, chairman of Fuwa, said.
''I am very pleased that SKF is being awarded yet another contract from Fuwa. By combining our expertise in bearings and sealing solutions as a knowledge engineering company, we provide the necessary means to support our customers in their business,' said Tryggve Sthen, president of SKF's automotive division.
Guangdong Fuwa Engineering Manufacturing Co Ltd, based in Shunde city, Guangdong province of China, is the largest trailer axle manufacturer in the world.