SKF and SNR Sign Agreement On Use of Intellectual Property Rights

    STOCKHOLM, Sweden--Jan. 25, 2001--SKF and SNR have reached an agreement, which allows each party to use certain intellectual property rights, owned by the other party, in the field of wheel bearings for passenger cars.
    Through this agreement both SKF and SNR will get access to new applications that will contribute to broaden the offer the two companies can provide to the market, improving quality, speed and value.
    "This is a logical step in line with our strategy of developing new partnerships to get access to new products and systems that will strengthen our competitive position in the market," says Tom Johnstone, President SKF Automotive Division.
    The SKF Group, headquartered in Gothenburg, Sweden, is the world leading supplier of bearings and services with yearly sales of 4.6 billion Euro.
    The SNR Group, headquartered in Annecy, France, is major supplier of bearings for the European automotive industry with yearly sales of 480 million Euro.

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