Sweden-based bearing and seal manufacturer SKF is continuing to increase its manufacturing and engineering capabilities across Asia, the company announced Nov. 24.
SKF has consolidated its manufacturing footprint in China from 16 to nine facilities in the past four years, according to a news release. The company is also expanding and modernizing its factory in Dalian, China, as part of an investment worth 1 billion Swedish Krona ($95 million USD). The next phase of the expansion, which aims to increase capabilities in several industrial segments, will be completed in 2024, according to the release.
“Investing in our local manufacturing and engineering hubs is an important step in strengthening our ability to support our customers in one of the largest bearing markets in the world,” Henry Wang, SKF President, China and Northeast Asia, said.
SKF is also investing 250 million Swedish Krona ($24 million USD) to improve its local manufacturing capabilities in India and southeast Asia.
“These investments are consistent with our overall strategy and create a basis for continued profitable growth in key segments,” Manish Bhatnagar, SKF President, India and Southeast Asia, said. “We will also be able to help customers capture more value and broaden our customer base across both India and Southeast Asia.”