SKF invests $50M in North American manufacturing

By |  September 25, 2020

SKF logoSKF, a supplier of bearings, seals, mechatronics, lubrication systems and services, is investing about $50 million in its manufacturing footprint in North America.

Of the $50 million, about $28 million is being invested in automating and expanding the company’s manufacturing processes factory in Sumter, South Carolina.

Another $23 million is being invested in localizing manufacturing of tapered roller bearings from China to an existing manufacturing site in Mexico, according to SKF.

This move will strengthen the company’s North American product offering, the company says, while transferring support of regional manufacturing. In turn, the company’s factories in Avon, Ohio, and North Charleston, South Carolina, will be consolidated into its Sumter, South Carolina, factory.

According to SKF, the investments and consolidation will take about 12-18 months to implement and will result in the reduction of about 115 staff members. Furthermore, associated restructuring costs amounting to $4 million, which will be accounted for during third quarter 2020, the company says.

“These investments illustrate SKF’s commitment to better serving customers in the region and will improve both our flexibility and competitiveness,” says John Schmidt, president of industrial sales for the Americas at SKF. “While this is an essential step for SKF, we do not take decisions that impact our employees lightly. We are deeply appreciative of our employees in Avon and North Charleston, and we are committed to fully supporting them as they transition to roles outside SKF.”

This article is tagged with , , , and posted in News
Avatar photo

About the Author:

Comments are closed