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SKF to set up new plant in India
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Written by Arjun   
Friday, 08 June 2007

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SKF will invest SEK 450mn (Rs 270 crores) in its new plant in India. With this new investment the SKF Group will have five manufacturing sites in the country.

 SKF today, announced an investment of SEK [Swedish Krona] 450 Million to build a Greenfield factory in India for the manufacturing of large size bearings. The factory is expected to start manufacturing in 2008 and will, when fully utilized, employ 300 persons.

 The investment in the new facility will be carried out through SKF's existing 100% subsidiary in India- SKF Technologies India Private Ltd.

 The investment is in response to the strong global demand for large size bearings in the sectors of wind energy, mining, steel and off road applications.

 Commenting on the occasion Mr. Tom Johnstone, President and CEO of SKF mentioned "With this new investment and the investment announced earlier this year in a factory for ball bearings in India, the SKF Group will have five manufacturing sites in the country. SKF has been present in India since 1923 and in recent years we have a strong development of our business in India. These investments show our continued commitment to the fast growing Indian market. The new factory will supply the Indian market as well as the international markets".  

 SKF had earlier inaugurated a factory for large size bearings in China as also announced its plans of increasing its capacity for the large size bearings in its Swedish factory, in Goteborg.
Last Updated ( Thursday, 26 June 2008 )
 
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