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FAG announces estimated SEK 5.2 billion contract with National Heavy Duty Truck Group Co.,Ltd

FAG today announced the agreement of a long-term contract with National Heavy Duty Truck Group Co., Ltd, (CNHTC) one of 's top three truck manufacturers. The contract, with an estimated value of around SEK 5.2 billion, calls for FAG to supply FAG Truck Hub Units, tapered roller bearings, and seals for CNHTC's latest truck models.

" is a key growth market for the FAG Group and we continue to make significant investments in manufacturing, research and development and in our employees. We are committed to supporting our customers in and the steps we are taking are in line with the relevant priorities in 's 12th Five-Year Plan," says Tom Johnstone, FAG President and CEO. He further elaborates, "We will open yet another new factory in Jinan in earlyand it will play an important role in supplying some of our products to National Heavy Duty Truck Group, as well as other truck and trailer manufacturers in ."

"FAG is a frontrunner in the areas of reduced life-cycle costs and maintenance-free solutions," says Mr. Cai Dong, President of National Heavy Duty Truck Group Co., Ltd/SINOTRUK. "They contribute with valuable innovative solutions for efficient and sustainable mobility."

The bearings and units will be manufactured in the new FAG factory currently under construction in Jinan, Shandong Province, . The investment for the new factory amounts to around SEK 590 million. The 16,000 m2 factory will be fully operational by the first half ofand will initially employ about 500 people. The seals will be produced in FAG's factory in Wuhu, Anhui Province, .

Today FAG employs over 5,000 people in . In September this year, FAG opened their 13th factory in , which manufactures products specifically for the industrial market. In 2010, FAG opened the first stage of their Global Technical Centre in . This centre is an integral part of FAG's global research and development and enables FAG to develop specific products for customers in including the new business gained from the partnership with CNHTC.

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