Sweden-based SKF has secured a $180 million, long-term agreement for Kaydon slewing ring bearings from an unidentified wind turbine manufacturer providing solutions to the North American and Brazilian wind markets.
‘We are delighted to sign this agreement. It reinforces SKF's commitment to support developing industries, such as renewable energy, and key customers' strategies as they expand their businesses globally,’ says Tom Johnstone, president and CEO of SKF.
He adds, "This is also a great example of the sales synergies that SKF expected to achieve with the Kaydon acquisition."
SKF acquired U.S.-based Kaydon Corp. in the end of 2013. Kaydon is a diversified industrial manufacturer within three areas: friction control products (bearings), velocity control products, and specialty products, including environmental services.
"Although we initiated the negotiations for this [long-term agreement] 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," comments Stephen Curtis, director of renewable energy business for Kaydon Bearings.