SKF says to consolidate North America manufacturing plants

Thursday, 9 Jun 2016 

SKF : SKF consolidates manufacturing facilities in North America . Says restructuring costs are expected to amount to around SEK 300 million . Says around SEK 100 million will be accounted for during Q2 2016 and remainder as they occur . Says consolidation is expected to generate full year cost savings of around SEK 220 million from 2019, whereof around SEK 70 million is expected to be achieved in 2018 . Says production will be transferred from group's site in Hanover, Pennsylvania, to Flowery Branch, Georgia, consolidating production of spherical roller bearings and large size roller bearings . Says production of rings and seals for aerospace industry will be relocated to Hanover from SKF's existing factory in Baltimore . Says investments totalling SEK 150 million will be made in upgrading machinery and manufacturing processes in Hanover and Flowery Branch . Says manufacturing and development of condition monitoring solutions will be moved from SKF's existing site in San Diego, California, to other sites in Europe . Says Y-Bearing and Units production channels in Puebla, Mexico, which serve North American customers within the agriculture segment, will be closed, with production transferred to other sites.