For Immediate Release
- The SKF Machine Condition Indicator Wins Product of the Year; Sparton Honored at SKF Group Award Ceremony
SCHAUMBURG, Ill.–(BUSINESS WIRE)–Apr. 30, 2014–Sparton Corporation (NYSE:SPA) announces that the SKF Machine Condition Indicator recently received awards from two prominent trade publications, winning product of the year from each. In a ceremony held at the Pacific Design and Manufacturing Show on February 11, 2014, the SKF Machine Condition Indicator was named Product of the Year in the Test & Measurement category by Design News. Plant Engineering also recognized the product’s significance by naming it one of the Products of the Year in the Maintenance Tools & Equipment category.
The SKF Machine Condition Indicator is a vibration and temperature monitoring device designed for rotating machinery and constant operating conditions. It provides the ability to track basic machine health on assets that are not currently being monitored on a regular basis. Sparton supplies printed circuit boards to operate the device. Manufacture of the finished product is currently being transitioned to Sparton’s Watertown, South Dakota facility.
“As a key supplier, Sparton is proud to be a part of this remarkable achievement. Winning an award from two different organizations in the same year is an amazing testament to the quality of this product,” said Karen Glover, Director, Program Management for Sparton. “Competition in the industrial market is fierce with a large number of worthy products being introduced regularly. We are honored to be a partner with SKF in the production and development of this groundbreaking innovation,” she added.
Sparton Receives Supplier Award from SKF
In a ceremony held at the SKF headquarters in Göteborg, Sweden, Sparton received the Supplier Award for Innovation. The award was based on the difficulty of the project, inspired approach and collaborative efforts of Sparton with the SKF team.
“For the SKF Machine Condition Indicator product, one of the high cost parts of the assembly was the process SKF required for conformal coating. Sparton innovated and proposed an alternative method, resulting in a five year savings of over $68,000 USD for SKF,” explained Elaine Magaña, Manager of Operations for SKF.
About Sparton Corporation
Sparton Corporation (NYSE:SPA), now in its 114th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service, and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace, and Industrial & Commercial. Headquartered in Schaumburg, IL, Sparton currently has eight manufacturing locations and four engineering design centers worldwide. Sparton’s Web site may be accessed at www.sparton.com.
SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2013 were SEK 63,597 million and the number of employees was 48,401. www.skf.com
Safe Harbor and Fair Disclosure Statement
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting future results, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in Sparton’s filings with the Securities and Exchange Commission (SEC). The matters discussed in this press release may also involve risks and uncertainties concerning Sparton’s services described in Sparton’s filings with the SEC. In particular, see the risk factors described in Sparton’s most recent Form 10K and Form 10Q. Sparton assumes no obligation to update the forward-looking information contained in this press release.
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