(Nanjing, China, June 29, 2011)

On June 29th, 2011, SKF, one of the world's top bearings, seals, mechatronics, lubrication systems and services manufacturer, and well-known iron giant Maanshan Iron & Steel (Masteel) inked a strategic partnership agreement in Nanjing, to expand the bilateral cooperation scope, makes full use of the competitive advantage of both sides.

Based on the previous good partnership, the new-signed agreement consolidates and strengthens existing cooperation; enhance service relationships and progress towards reduced total cost of ownership (TCO) & sustainability.

I am pretty sure that we will have a more integrated and solid strategic cooperation with Masteel, and other customers in China and it is well in line with SKF Service Division's long-term goal to provide the our customers or clients with value added solutions for improved overall productivity and efficiency based on SKF's advanced services and technical competence, says Vartan Vartanian, President, SKF Service Division.

Ding Yi, Deputy General Manager, Masteel, says, SKF not only provides high quality bearings, but also has very good contribution in seals, lubrication and service. What is more, the product of SKF has a very good application in steel industry in China. Masteel and SKF can strengthen cooperation further and enhance the level of cooperation. The two sides will cooperate more on a new and higher level.

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