Honeywell and SKF Launch Industrial Internet of Things Pilot Project

GOTHENBURG, Sweden, May 10, 2017 /PRNewswire/ --

Honeywell Process Solutions and SKF have launched a joint pilot project aimed at developing Industrial Internet of Things (IIoT) solutions. The pilot project, at a copper mine in Latin America, aims to create a digital standard for improved machine efficiency, reliability and competitiveness for industrial customers.

As part of the pilot project, SKF's expertise in bearings, lubrication and condition monitoring will be combined with Honeywell's capabilities in data consolidation and software development. The project's ambition is the joint development of a user-friendly digital ecosystem that captures and analyses large amounts of data from a plant operator's machinery. Based on the analysis of this data, operators will be able to determine methods to reduce or even eliminate manufacturing inefficiencies and unplanned down-time.

Alrik Danielson, President and CEO, SKF, says: "The number of potential data collection points in a modern factory is increasing exponentially, but this data will only generate value for operators if it is analysed and acted upon to improve a machine's performance and profitability. Our collaboration with Honeywell will make this possible."

Shree Dandekar, Vice President and General Manager, Honeywell Connected Plant, says: "Leveraging the IIoT gives manufacturers real-time access to operating information from an incrementally larger data-set across not only one site or plant, but across an entire enterprise. By creating an ecosystem of software and hardware manufacturers with unmatched domain experience, we will be able to better understand the risks and demands on the operating units and ultimately provide a higher level outcome for our customers."

Aktiebolaget SKF
     (publ)

For further information, please contact:

Press:
Theo Kjellberg,
Director, Press Relations
tel: 46-31-337-6576
mobile: 46-725-776576
E-mail: theo.kjellberg@skf.com

Investor relations:
Patrik Stenberg,
Head of Investor Relations
Tel: 46-31-337 2104 or 46-705-472-104
E-mail: patrik.stenberg@skf.com

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http://news.cision.com/skf/r/honeywell-and-skf-launch-industrial-internet-of-things-pilot-project,c2260791

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