SKF increases regional capabilities across Asia

Investments totaling SEK 1.25 billion to increase capabilities and competitiveness across China, India and Southeast Asia

Gothenburg, 24 November 2022: SKF is continuing to increase its regional capabilities across Asia, through selected investments in its manufacturing and engineering capabilities in the region.

In China, SKF has consolidated its manufacturing footprint from 16 to nine manufacturing sites in the last four years. This process has brought together modern manufacturing capabilities with design, development and testing competence that supports the application specific needs and speed to market requirements of regional customers.

As part of the Group's ambitions to increase its competitiveness and service offer for large- and medium-size bearings, an investment program totaling SEK 1 billion is ongoing at SKF's Dalian factory in China, which is being expanded and modernized in several phases. The next phase of expansion will be completed during 2024, increasing capabilities in several industrial segments.

Henry Wang, President, China and Northeast Asia, says: "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."

In India and Southeast Asia, SKF is investing SEK 250 million, to improve its local manufacturing capabilities, boost the supply chain network and accelerate regionalization. With these investments, a stronger deep-groove ball bearing and hub bearing unit offer will be created for general industrial and automotive applications across the region.

Manish Bhatnagar, President, India and Southeast Asia, says: "These investments are consistent with our overall strategy and create a basis for continued profitable growth in key segments. We will also be able to help customers capture more value and broaden our customer base across both India and Southeast Asia."

Aktiebolaget SKF
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SKF's mission is to be the undisputed leader in the bearing business. We do this by offering solutions that reduce friction and CO2 emissions, whilst at the same time increasing machine uptime and performance. Our products and services around the rotating shaft include bearings, seals, lubrication management, artificial intelligence and wireless condition monitoring. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2021 were SEK 81,732 million and the number of employees was 42,602. www.skf.com

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