SKF inaugurates factory in Monterrey, Mexico

October 04, 2023 09:26 PM IST | By Cision
 SKF inaugurates factory in Monterrey, Mexico
Image source: Kalkine Media

GOTHENBURG, Sweden, Oct. 4, 2023 /PRNewswire/ -- SKF has inaugurated its new facility in Monterrey, Mexico, a greenfield factory investment totaling SEK 700 million. This will support SKF's strategic development in the Americas and meet customer needs as focus on electrification increases. The investments are also an important step in SKF's ongoing Automotive portfolio re-positioning towards the electric vehicle drivetrain and commercial vehicle segments.

In SKF's fourth factory in Mexico, deep-groove ball bearings (DGBB) for North American car manufacturers will be developed and manufactured, as well as tapered roller bearings (TRB) for industrial customers, for example in the Agri market, and commercial vehicle applications.

Rickard Gustafson, President and CEO, says: "Building on over 100 years of presence in Mexico, it is fantastic to see our new factory now being inaugurated. Investing in engineering and manufacturing capabilities in the strategically located Monterrey will make us stronger and more flexible and increase our competitiveness in the Americas."

Kerstin Enochsson, President, Automotive, says: "These investments further strengthen our offers within the fast-growing and strategically important electric driveline, both for passenger and commercial vehicles, as well as our delivery and regional capabilities in North America. This will reinforce our position as a global, leading supplier to the electric and commercial vehicle markets."

John Schmidt, President, Americas, says: "Regionalization is an important part of our strategy, and this factory will create a strong regional base for development and manufacturing, and further strengthen our value chain in North America. By being closer to both existing and new customers, we will be able to serve them even better."

The Monterrey factory is expected to generate some 1,200 jobs once fully operational.

Aktiebolaget SKF
      (publ)

CONTACT:

For further information, please contact:
PRESS: Carl Bjernstam, Head of Media Relations
tel: 46 31-337 2517; mobile: 46 722-201 893; e-mail: [email protected] 

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
tel: 46 31-337 2104; mobile: 46 705-472 104; [email protected] 

The following files are available for download:


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

Sponsored Articles


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.