SKF Consolidates Manufacturing in China; Invests in New Facility

GOTHENBURG,Sweden,Nov. 22,2018 -- SKF is investing approximately SEK 200 million in improving its competitiveness and customer service levels for tapered roller bearings (TRB) in China. The investment is being made in a new manufacturing facility in Changshan,to which the Group's existing small-size TRB manufacturing in China will be transferred. As a result,three existing sites in Ningbo,Shanghai and Changshan will be closed.

Patrick Tong,President,Industrial Sales,Asia,says: "The tapered roller bearing market in China continues to show solid levels of growth,driven largely by the industrial gearbox and drives segments. The investment in Changshan allows us to capitalise on this trend by bringing our SKF,GBC and PEER brands and expertise together,under one roof."

The new manufacturing facility in Changshan is expected to be fully operational during Q1 2019.

For further information,please contact:

PRESS:

Theo Kjellberg,

Director,

Press Relations

tel: 46-31-337-6576

mobile: 46-725-776576

e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS:

Patrik Stenberg

Head of Investor Relations

46-31-337-2104

46-705-472-104

patrik.stenberg@skf.com

This information was brought to you by Cision http://news.cision.com

http://news.cision.com/skf/r/skf-consolidates-manufacturing-in-china--invests-in-new-facility,c2678974

The following files are available for download:

http://mb.cision.com/Main/637/2678974/949542.pdf

Full release in pdf

http://news.cision.com/skf/i/skf-changshan-trb-factory-ground-level,c2532485

SKF Changshan TRB factory ground level

http://news.cision.com/skf/i/skf-changshan-trb-factory-from-above,c2532486

SKF Changshan TRB factory from above

http://news.cision.com/skf/i/skf-trbs,c2532487

SKF TRBs