SKF invests 600 million Swedish kronor in Göteborg to increase production capacity
SKF is investing approximately 600 million Swedish kronor in its facilities in Göteborg to increase capacity.
Investments include two new bearing channels, two roller channels, a new heat treatment plant, new machining equipment for the production of cages, and upgrading of several bearing channels.
The production volume in Göteborg has had a strong growth over the past few years, as a result of strong sales development of the company’s products. During 2006, volume increased by about 10 per cent.
During the last few years, the factories in Göteborg have hired some 200 new employees, although any significant increase in new employment numbers as a result of the investments is not expected.
SKF in Göteborg supplies products to industrial segments such as energy, pulp and paper, and mining. The energy and mining industries have both experienced strong growth over the past few years, which has meant added pressure on the factories in Göteborg and consequently the need for an increase in capacity. The most important markets are Europe and Asia.
Included in the investment projects are further environmental improvement measures for more energy-efficient production.
The investments, some of which were initiated last year, will be carried out over the next two years. The new heat treatment plant is the single largest investment and is expected to take a couple years to complete.
SKF in Göteborg develops and manufactures spherical rolling bearings, high temperature bearings and CARB toroidal roller bearings. In addition, product development for spherical rolling bearings as well as the Group’s unit for process development, are also located in Göteborg. Production is mainly for export. The SKF Group employs around 41,000 people, of which 2,800 employees work in Göteborg.
Göteborg, 15 February 2007
For further information, please contact:
PRESS: Lars G Malmer, SKF Group Communication, tel. +46 (0)31 337 1541, e-mail: Lars.G.Malmer@skf.com
PRESS: Gösta Andersson, SKF Sverige, tel: 031 3373060, e-mail: gosta. firstname.lastname@example.org
IR: Marita Björk, SKF Investor Relations, tel: +46 (0)31 337 1994, mobile: +46 (0)705-181994, e-post: email@example.com