Date: 2013-08-01

SKF Signed IMS Contract With Valero Energy Corporation

SKF signed a performance-based IMS contract with Valero Energy Corporation, the largest refiner in North America, for the Valero Paulsboro Refinery located in Greenwich Township, NJ. With this agreement, Valero extends the application of performance-based contracts from mechanical seals to pumps in an effort to significantly reduce their annual expenses to maintain these assets.

With this contract, Valero aims to reduce the cost of spare parts consumed for pump repairs, as well as spare parts inventory and the associated carrying costs. Other objectives include increasing pump availability and Valero engineering resource availability.

Valero

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