SKF Increases Regional Capabilities Across Asia
SKF is continuing to increase its regional capabilities across Asia through selected investments in its manufacturing and engineering capabilities in the region.
In China, SKF has consolidated its manufacturing footprint from 16 to nine manufacturing sites in the last four years. This process has brought together modern manufacturing capabilities with design, development and testing competence that supports the application specific needs and speed to market requirements of regional customers.
As part of the Group's ambitions to increase its competitiveness and service offer for large- and medium-size bearings, an investment program totaling SEK 1 billion is ongoing at SKF's Dalian factory in China, which is being expanded and modernized in several phases. The next phase of expansion will be completed during 2024, increasing capabilities in several industrial segments.
"Investing in our local manufacturing and engineering hubs is an important step in strengthening our ability to support our customers in one of the largest bearing markets in the world," said Henry Wang, president, China and Northeast Asia.
In India and Southeast Asia, SKF is investing SEK 250 million to improve its local manufacturing capabilities, boost the supply chain network and accelerate regionalization. With these investments, a stronger deep-groove ball bearing and hub bearing unit offer will be created for general industrial and automotive applications across the region.
"These investments are consistent with our overall strategy and create a basis for continued profitable growth in key segments," said Manish Bhatnagar, president, India and Southeast Asia. "We will also be able to help customers capture more value and broaden our customer base across both India and Southeast Asia."
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