The 2020 Mid-Year Economic Update_long

SKF Investing $42.8 Million in Ball Bearing Manufacturing in China

Latest investment from Swedish bearing and seal manufacturer will expand current Chinese plant.

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.

Related Posts

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.