SKF builds railway bearing plant in Tver, Russia

The earlier announced SKF factory in Russia will be located in Tver.

SKF has signed an investment agreement with the Tver Region Administration to build a plant for manufacturing of bearing units for railway wheel sets. The facility will be in operation January 2010 .

With the new plant SKF will take a leading position as bearing supplier to the Russian Railways, RZD, in their technology shift from conventional axlebox mounted roller bearings to sealed tapered roller bearing units of modern SKF technology.

Construction of the green field bearing plant, on a land plot of 100 000 square meters, will start mid this year and be finished by the end of next year.

“We are delighted to welcome SKF in Tver,” says Dmitry Zelenin, Governor of Tver Region Administration. “Our region is in rapid growth and attracts investors from all over the world. It is a great pleasure for us to have SKF investing in our region showing strong commitment to the railway industry here in Tver," continues Mr Zelenin.

“Russia is a very important railway market which, is in a dynamic phase of growth,” says Tom Johnstone, President and CEO of the SKF Group. “SKF is working actively in this market and the investment in Tver will both support our growth in Russia and strengthen SKF’s position within the global railway market” Tom Johnstone continues.



SKF a leading rolling bearing supplier to the world railway industry, providing a full assortment of products and services for all types of railway vehicles such as high speed trains, locomotives, multiple units, coaches, mass transit vehicles and freight cars.

Göteborg, 13 June 2008

Aktiebolaget SKF
(publ)









AB SKF may be required to disclose the information provided herein according to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 09.15 on 13 June 2008.



For further information, please contact:
PRESS: Ingalill Östman, SKF Group Communication, tel: +46 31-337 3260, mobile:
+46 706-973260, e-mail: ingalill.ostman@skf.com
IR: Marita Björk, SKF Investor Relations, tel: +46 31-337 1994, mobile: +46 705-181994,
e-mail: marita.bjork@skf.com





SKF is a leading global supplier in the areas of bearings, seals, mechatronics, services and lubrication systems. The Group’s service offer includes technical support, maintenance services, engineering consultancy and training. SKF is represented in more than 130 countries and has 15,000 distributors worldwide. The Group’s annual sales 2007 were SEK 58,559 million. The number of employees was 42,888.