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December 7, 2007

SKF, GE Aviation Enter Joint Venture

SKF and GE Aviation have agreed to establish a new company that will manufacture and repair bearings for GE's engines for large aircrafts. The new company, with SKF holding 51% and GE Aviation 49%, will be consolidated into the SKF Group and represents an investment of $28 million.
 
The bearings will be manufactured for GE Aviation and its affiliate. The new company will be based in Charleston, SC. It will start deliveries during 2008 and will have about 100 employees when in full production.
 
Sweden-based SKF is a producer of bearings for the aero engine market and GE Aviation produces large aero engines.  

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