SKF Invests Further SEK 145 Million in Schweinfurt Production Channels

Investments in Schweinfurt Will Modernize Large-size Bearing Production, cut Production Lead Times by 50% and Improve Competitiveness

News provided by

SKF

Jan 16, 2017, 06:40 ET

GOTHENBURG, Sweden, Jan 16, 2017 /PRNewswire/ --

SKF is investing a further SEK 145 million in improving the competitiveness of its large-size bearing production in Schweinfurt, Germany.

As part of the investment, a new, automatized hard machining channel will be installed. Combining this with the latest in connectivity solutions will allow for shorter resetting times and greater flexibility in production batch sizes.

A new heat treatment process will also be implemented, making the process more efficient and improving bearing performance.

Luc Graux, President, Bearing Operations, says: "This investment is in-line with our strategy of developing world-class manufacturing channels across our main product lines that replace older, less competitive technologies. It also reaffirms our commitment to developing our manufacturing base in Europe and, in particular, Germany."

The investment announced today is expected to be completed during 2018.

In total, during the last three months, SKF has announced investments totalling SEK 295 million in upgrading production channels in Schweinfurt.

Previous press releases on similar topics:

3 November 2016: SKF invests SEK 150 million in Schweinfurt production channels:
[link to press release]

9 June 2016: SKF consolidates manufacturing facilities in North America:
[link to press release]

17 April 2015: SKF invests SEK 190 million in Gothenburg production channels:
[link to press release]

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: [email protected]

INVESTOR RELATIONS:

Patrik Stenberg,
Head of Investor Relations
Tel: 46 31-337 2104; 46 705-472 104
E-mail: [email protected]

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 17,000 distributor locations worldwide. Annual sales in 2015 were SEK 75 997 million and the number of employees was 46 635. www.skf.com

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