The world's largest bearing manufacturer Sweden SKF plans to build a new plant

It is reported that Sweden's SKF Group, the world's largest bearing manufacturer, announced on Monday that it plans to invest 700 million Swedish kronor (about 106 million US dollars) to build a new plant and R & D center in Jiading District, Shanghai, China. The construction of the plant is expected to begin before the end of the third quarter and will be completed in the fourth quarter of 2013. By 2015, the plant is expected to employ approximately 900 people.
SKF CEO Tom Johnstone said the move would "strengthen our production, engineering, development and testing footprints in the region and will enable us to support local customers better and faster. ”
SKF said in July this year that due to the global economic slowdown, it plans to shrink production this year and make more cost reductions.

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