Swedish bearing and seal manufacturer SKF announced Wednesday it is strengthening its ball bearing manufacturing footprint in China with a SEK 400 million (US$42.8 million) investment.
This latest announcement follows last June’s news that SKF would spend SEK 370 million (US$39.6 million) on a new factory in Xinchang. With the factory now operational, this further investment will expand the site.
Patrick Tong, president, Industrial Sales Asia, says: "We have made great progress in China, the world's largest market for deep groove ball bearings, over the last two years, thanks to our engineering competence and first investment phase in Xinchang. The next phase of the investment will allow us to serve our customers even better, across wider applications and with a wider product range."
Kent Viitanen, president, Bearing Operations, says: "This investment is part of our strategic ambition to develop our regional manufacturing footprint. Following our successful initial investment in Xinchang, expanding the site is a logical next step in strengthening our ball bearing capabilities in China."
The second phase of the factory in Xinchang is expected to be operational during the end of 2021.