Moventas and NSK sign multiyear contract

Moventas Oy and NSK Europe signed a multiyear contract on 19.3.2008 in Jyväskylä, Finland, for the procurement and delivery of NSK rolling bearings for the Moventas Wind Gears business. The term of the contract is initially 4 years, with the option of continued cooperation beyond this contract period. The value of the contract is several tens of million Euros.

This new contractual agreement is the result of the positive working relationship that the two market leaders' have enjoyed for several years and is the logical next step of the partnership.

The contract is also to provide long-term security for supply, as both companies have planned extensive investments in new production capacity, to support the future potential growth in wind power stations. Both companies are continuously expanding their market share in this field.

For further information, please contact
Ilkka Hakala,
President and CEO
Moventas Oy
tel. +358 400 824 696

Dr. Jürgen Ackermann
Managing Director
NSK Europe LTD
tel. +49 2102 481 1295

Moventas
Moventas is one of the leading experts in mechanical power transmission. The company designs, manufactures and markets mechanical power transmission solutions and services for the process and energy industries. In 2007 Moventas created net sales of 291 million euros. The company has over 1200 employees in Finland, Germany, Sweden, Canada, the USA, Singapore and China. European private equity investor Industri Kapital holds the majority of the shares in Moventas.
www.moventas.com

NSK
NSK – founded 1916 as Japan’s first bearings manufacturer – today is a global leading supplier of bearings, automotive components and steering systems, precision and mechatronic products. With a turnover of 5 billion Euro, the NSK Group employs more than 23,000 people worldwide. The NSK Group’s European arm, NSK Europen Ltd., brings together: pan-European sales operations; manufacturing bases in the UK, Poland and Germany; distribution centres in the Netherlands, Germany and UK; state-of-the-art technology centres; and a comprehensive network of local Authorised Distributors. www.eu.nsk.com