SKF and Ricardo cooperate in the development of future Automotive energy efficient solutions

STOCKHOLM, Sweden--Regulatory News:

SKF (Pink Sheets:SKFRY) (STO:SKFA) (STO:SKFB) (LSE:SKFB) and Ricardo have signed an agreement to develop energy efficient solutions to better serve the increasing customer demand from the automotive industry for increased fuel economy and reduced CO2.

Through the cooperation both companies will be able to offer their common customer base a “one-stop-shop” partner providing leading edge research, product and application development and cost efficient manufacturing and supply. The cooperation is based on a number of identified areas covering long-term research projects, application and product development as well as customer specific solution development. The initial focus will be on increasing the efficiency of today’s transmission and engine technology based on contacts with world leading automotive OEMs (Original Equipment Manufacturers).

"SKF is already very active in the development of energy-efficient solutions. The co-operation between SKF and Ricardo strengthens our position as a frontrunner in the industry and also our position in this field," says Tryggve Sthen, President Automotive Division.

"We are very pleased to be entering this agreement with SKF to jointly address some of the energy efficiency issues facing the automotive industry, in order to provide technology to our customers that will enable the next generation of low carbon vehicles," adds Ricardo CEO Dave Shemmans.

Göteborg, 13 November 2009

Aktiebolaget SKF
(publ)

AB SKF may be required to disclose the information provided herein according to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13.30 pm CET on 13 November 2009.

SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group’s service offer includes technical support, maintenance services, engineering consultancy and training. SKF is represented in more than 130 countries and has 15,000 distributor locations worldwide. The Group’s annual sales 2008 were SEK 63,361 million. The number of employees was 44,799. www.skf.com.

Aktiebolaget SKF, 415 50 Göteborg, tel: 031 337 1000, fax 031 337 1722, www.skf.com

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