SKF plans to invest a total of SEK 1.25 billion to improve manufacturing and engineering capabilities in China, India and Southeast Asia to further enhance regional competitiveness.
Gothenburg, November 24, 2022: SKF is planning selective investments in manufacturing and engineering capabilities in Asia, continuing to increase its regional capabilities across Asia.
In the past 4 years, SKF has integrated its production bases from 16 to 9 in China. In this process, it integrates modern manufacturing capabilities with design, development and testing capabilities to support regional customer-specific applications, speed, etc., and further keep up with market demand.
As part of the group company's efforts to improve the competitiveness and service level of large and medium-sized bearings, SKF China's Dalian plant is undergoing an investment plan totaling SEK 1 billion. The plant is being expanded and modernized in several stages. The next phase of expansion, due to be completed in 2024, will add capacity in several industrial sectors.
"Investing in a local manufacturing and engineering center is an important step in strengthening our ability to support customers in the world's largest bearing market," said Henry Wang, the CEO of China and Northeast Asia.
In India and Southeast Asia, SKF expects to invest SEK 250 million to improve its local manufacturing capabilities, improve its supply chain network, and accelerate regionalization. Through these investments, related products such as more powerful deep groove ball bearings and hub bearing units will be available for general industrial and automotive applications in the region.
Manish Bhatnagar, the CEO of India and Southeast Asia said: "These investments are in line with our overall strategy and lay the foundation for continued profitable growth in key areas. We will help clients capture more value and expand our customer base in India and Southeast Asia."
