Sandvik Mining and Construction and SKF have signed a three-year strategic partnership agreement worth Skr335m ($53m) to strengthen their relationship

Of the total amount, Skr70m ($11m) will be invested in new business.

SKF will enable Sandvik to reduce its capital cost by handling its inventories of SKF products.

SKF will also work with Sandvik in the development of key Sandvik Mining and Construction products involving SKF’s five platforms: bearings and units, seals, mechatronics, services and lubrication systems.

SKF has also received other contracts from Sandvik, including SKF spherical roller bearings that will be used in Sandvik’s screens, feeders and crushers.