Investment in deep groove ball bearing manufacturing

SKF is investing approximately SEK 450 million in improving the competitiveness of its deep groove ball bearing (DGBB) offering. This includes shifting some production from Bari, Italy to Asia and Eastern Europe. DGBB manufacturing in China is to be consolidated into a new factory. This will enable continued growth and footprint consolidation in China. The new factory is expected to be fully operational during the first half of 2020. An automated production channel is also being implemented in Bari. The investment in the Bari factory totals approximately SEK 50 million and will lead to the automation of manual operations and a flexible and more competitive manufacturing process. Associated staff reductions will result in restructuring costs of approximately SEK 140 million, to be accounted for during the second quarter of 2019. The automated production channel in Bari is expected to be completed during the second half of 2020.

Contact Samantha Joubert, SKF, samantha.joubert@skf.com

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