SKF and ABB increase collaboration on industrial automation

Memorandum of Understanding signed to facilitate possible future strategic collaborations and new business opportunities.

GOTHENBURG, Sweden, July 7, 2022 /PRNewswire/ -- SKF and ABB have entered into a Memorandum of Understanding (MoU) to explore the possibilities for a collaboration in the automation of manufacturing processes. The MoU was signed at ABB's Robotics Experience Center in Västerås, Sweden, by SKF CEO Rickard Gustafson and ABB CEO Björn Rosengren.

Following the successful delivery of a number of projects in SKF's global manufacturing network, including in Gothenburg, where a fleet of industrial robots from ABB are installed in the bearing manufacturer's state-of-the-art factory, the two companies are now taking the next step in their collaboration.

Through the partnership, SKF and ABB will identify and evaluate solutions to improve manufacturing capabilities and support clients' increased production efficiency. As a first step, SKF's investments in automation and clean manufacturing processes will act as a testbed, focused on decreasing CO2 emissions from SKF's operations. Longer-term, the parties intend to explore new business opportunities in both traditional and new market segments, where both companies bring experiences within a wide range of industries.

Rickard Gustafson, President and CEO of SKF, says: "We are increasing the automation of our production facilities in all our regions, in order to stay ahead of our competition and improve our environmental performance. This also enables a more flexible and safer working environment. ABB is an important partner for us in this area and we, as two leading industrial companies, will continue to develop innovative solutions to further increase the competitiveness of our customers".

Björn Rosengren, CEO of ABB, says: "The demand for automation is increasing, driven by declining working age populations, rising labor costs, and industry's efforts to create resource-efficient operations in the transition to more sustainable manufacturing. I am therefore pleased to announce this deepened partnership alongside SKF, further strengthening our technical leadership".

Recently, the two companies have signed contracts for delivery of specific projects in the field of advanced manufacturing automation, robotic random bin-picking or installations of innovative logistics automation solutions in more complex industrial workshops within SKF's manufacturing footprint, thus making it possible to see how robots can enable quality assurance of detail management.

Aktiebolaget SKF
     (publ)

CONTACT:

PRESS: Carl Bjernstam
Group Communication
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

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Source: SKF Related Stocks: Bloomberg:SKFA@SS Bloomberg:SKFB@SS ISIN:SE0000108201 ISIN:SE0000108227 RICS:SKFA.ST RICS:SKFB.ST Stockholm:SKF-A Stockholm:SKF-B
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