SKF: SKF to Invest in New Forest in China

24. May. 2010

SKF today signed a framework agreement with the State Forestry Administration in China to plant new forests, in remote areas of the country. The project is expected to run for five years. SKF has selected the Swedish University of Agricultural Sciences (SLU), one of the leading research institutes in forestry, as a technical partner.

The signing is held in connection with the kick-off of the "Sweden China Innovation Week" in Beijing that is organized to mark the 60-year anniversary of diplomatic relations between Sweden and China.

China is aiming at achieving forest coverage of more than 26% by 2050. By investing in these forests SKF aims to bring environmental as well as social contribution to the local communities.

- We recognize the critical role forests serve in the ecosystem and this project supports our sustainability work and our BeyondZero approach. We are committed to reduce the negative environmental impacts from our operations and offer new technologies, products, and services with enhanced environmental added value to our customers, says Tom Johnstone, SKF President and CEO.

SKF has a robust process aimed to constantly improve the energy use efficiency both in the energy demand for manufacturing operations as well as its facilities. For SKF this has resulted in a reduction in carbon emissions of more than 150,000 tonnes, nearly 27% absolute reduction over the past four years.

Gothenburg, 21 May 2010

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 21 May 2010 on 09.30 am CEST.

For further information, please contact:
PRESS: Ingalill Östman, SKF Group Communication, tel: +46 31-337 3260, mobile:
+46 706-973260, e-mail: ingalill.ostman@skf.com
IR: Marita Björk, SKF Investor Relations, tel: +46 31-337 1994, mobile: +46 705-181994,
e-mail: marita.bjork@skf.com

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 2009 were SEK 56,227 million. The number of employees was 41,172. www.skf.com.

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