SKF consolidates manufacturing and organisational structure in France

GOTHENBURG,Sweden,Nov. 3,2020 -- SKF today announces a consolidation and restructuring of various manufacturing,business and administrative functions in France. Consequently,manufacturing of slewing bearings would be moved from Avallon to St-Cyr-sur-Loire,resulting in the proposed closure of the Avallon factory.

The transfer of production from Avallon to St-Cyr enables a more competitive and flexible offer to customers,as well as the realisation of synergies from the existing service centre and logistics capabilities in Saint-Cyr.

Kent Viitanen,President,Bearing Operations,says: "We have announced a number of factory consolidations during the year and whilst these are difficult decisions to take,they are necessary to ensure we can continue to meet the needs of our customers in terms of competitiveness,flexibility and quality. We are committed to working with our employees to ensure a smooth transition into training programmes and new employment opportunities."

The Avallon site currently has 140 employees and activities are expected to stop by the end of 2022. The restructuring of manufacturing,business and administrative functions in France is expected to impact approximately 110 employees.

The proposals announced today are subject to consultation with French employee representatives.

Aktiebolaget SKF

(publ)

For further information,please contact:

PRESS: Theo Kjellberg,Director,Press Relations

tel: 46 31337 6576,mobile: 46 725-776576,e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS: Patrik Stenberg,Head of Investor Relations

Patrik Stenberg,46 31-337 2104; 46 705-472 104; patrik.stenberg@skf.com

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