While the Brazilian economy remained weak, Donizete Saints, Director of Industrial Sales, indicated SKF was able to increase sales by focusing on export-oriented business segments. Petrochemical companies, paper, cellulose, agriculture, and mining equipment are all export-oriented market segments for SKF which improved during 2003.
SKF sold 4.8 million industrial bearings in Brazil during 2002; in 2003, the company expects to sell more than 7 million industrial bearings. Overall, forecasts for full-year 2003 sales are up at least 20% from 2002.
Industrial bearings are the company's strongest segment; SKF controls 25% of the industrial bearing market in Brazil, representing 55% of SKF do Brasil's sales. The remainder of SKF's bearing sales in Brazil come from auto manufacturers and the automotive aftermarket.
The Power Transmission Alliance (PTA), a joint venture of SKF and Goodyear which launched in 2002, is on track to generate sales of up to R$500 million (USD $170 million) over the next five years.
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