ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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No Longer the Props

No Longer the Props Hansavivek ASSOCIATED BEARING's board says that steps are being taken to set up the company's own selling organisation, but SKF Ball Bearing has been re-appointed as sole selling agent for another five years from May 9 next. Sale of all the company's products will be carried out by the selling agent up to the end of 1974. It is stated that, as from the beginning of 1957, the company will itself take over sales of its entire range of products, except for bearing replacement sales amounting to about 30 per cent. These deliveries will continue to bo handled by SKF as "it will be more economical for our Company". A special resolution is proposed to seek the shareholders' approval, since B Fredrik- son, Technical and Managing Director, is also Managing Director of SKF. Sole selling agents' commission for 1971 exceeded Rs 74 lakhs, and for 1970 it was over Rs 66 lakhs, SKF has been marketing the company's products since it was founded 11 years ago. Fredrick- son's own remuneration from the company during 1971 amounted to Rs 1,93,413. The total payment to and provisions for the approximately 1,100 employees of the company aggregated less than Rs 95 lakhs.

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