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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
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