Edition:
United States

SKF Shifts Some Production From Italy To Asia And Eastern Europe


Wednesday, 19 Jun 2019 02:00am EDT 

June 19 (Reuters) - AB Skf ::INVESTS SEK 450 MILLION IN DEEP GROOVE BALL BEARING MANUFACTURING.STAFF REDUCTIONS CONNECTED TO AUTOMATION INVESTMENTS IN BARI WILL RESULT IN RESTRUCTURING COSTS OF APPROXIMATELY SEK 140 MILLION IN Q2 OF 2019.APPROXIMATELY SEK 30 MILLION IS BEING INVESTED IN TECHNOLOGY AND CAPACITY UPGRADES IN EXISTING FACTORIES IN ASIA AND EASTERN EUROPE..SKF IS INVESTING APPROXIMATELY SEK 450 MILLION IN IMPROVING COMPETITIVENESS OF ITS DEEP GROOVE BALL BEARING (DGBB) OFFERING.INVESTMENT IN BARI FACTORY TOTALS APPROXIMATELY SEK 50 MILLION.AUTOMATED PRODUCTION CHANNEL IN BARI IS EXPECTED TO BE COMPLETED DURING SECOND HALF OF 2020..THIS INCLUDES SHIFTING SOME PRODUCTION FROM BARI, ITALY TO ASIA AND EASTERN EUROPE.NEW FACTORY IS EXPECTED TO BE FULLY OPERATIONAL DURING FIRST HALF OF 2020.DGBB MANUFACTURING IN CHINA IS TO BE CONSOLIDATED INTO A NEW FACTORY.AN AUTOMATED PRODUCTION CHANNEL IS ALSO BEING IMPLEMENTED IN BARI.INVESTMENT TOTALING APPROXIMATELY SEK 370 MILLION IS BEING MADE IN A NEW DGBB FACTORY IN XINCHANG, CHINA.INVESTMENT IN BARI FACTORY TOTALS APPROXIMATELY SEK 50 MILLION AND WILL LEAD TO AUTOMATION OF MANUAL OPERATIONS AND A FLEXIBLE AND MORE COMPETITIVE MANUFACTURING PROCESS.ASSOCIATED STAFF REDUCTIONS WILL RESULT IN RESTRUCTURING COSTS OF APPROXIMATELY SEK 140 MILLION.AUTOMATED PRODUCTION CHANNEL IN BARI IS EXPECTED TO BE COMPLETED DURING SECOND HALF OF 2020.