New joint venture in China
SKF is continuing its expansion into the Chinese market. Together with China’s leading bearing producer, Wafangdian Bearing Co. Ltd., SKF is starting a new joint-venture company for the production and sales of spherical roller bearings.
SKF will be the majority owner (51 percent) of the new company. The total investment amounts
to 230 million Swedish kronor (US$ 29 million).
Production will be located in a plant with about 700 employees, in Wanfangdian in Liaoning Province, in northeastern China. The plant will produce spherical roller bearings with outside diameters of up to 435 millimetres. It is planned that within five years the plant will have reached an annual production of 1.5 million bearings.