Thursday, November 24, 2022
HomeBusinessSKF invests $120 mln across China, India and Southeast Asia

SKF invests $120 mln across China, India and Southeast Asia

STOCKHOLM, Nov 24 (Reuters) – Swedish bearings maker SKF (SKFb.ST) said on Thursday it would invest 1.25 billion crowns ($120 million) across China, India and Southeast Asia.

SKF said in a statement it was investing 1 billion crowns in expanding and modernising its factory in Dalian in China to improve its competitiveness for large- and medium-size bearings.

The remainder would be invested in improving manufacturing capabilities, boosting the supply chain network and accelerating regionalisation in India and Southeast Asia, it said.

($1 = 10.4209 Swedish crowns)

Reporting by Anna Ringstrom, editing by Stine Jacobsen

Our Standards: The Thomson Reuters Trust Principles.

Abdullah Anaman
Abdullah Anamanhttps://aanaman.me
I am a highly competent IT professional with a proven track record in designing websites, building apps etc. I have strong technical skills as well as excellent interpersonal skills, enabling me to interact with a wide range of clients.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Most Popular

Recent Comments