GOTHENBURG, Sweden – SKF is continuing its expansion in Asia and building a new factory in Jinan, in the Shandong Province, China. The company says this new investment will support the rapid growth of SKF’s business in China and Asia.

The factory will be built according to the Leadership in Energy and Environmental Design (LEED) standard and while it will mainly manufacture tapered roller bearings and truck hub units for the automotive and truck business, it will also serve the industrial markets and vehicle aftermarket.
 
This expansion is a part of SKF’s strategy to strengthen its manufacturing footprint in Asia, in order to support the growing demand from customers in China and elsewhere in Asia, the company said.

“Our automotive and truck business in Asia is rapidly expanding and in recent years we have strengthened our manufacturing and product development footprint in the region,” said Tryggve Sthen, president, SKF Automotive Division. “This new facility will complement our existing operations and enable us to serve these customers in China and Asia even better and faster.
 
The investment amounts to around SEK 590 million (approximately $93 million). The facility will be fully operational by the first half of 2012 and will initially employ about 500 people.