SKF invests $120 million across China, India and Southeast Asia
STOCKHOLM (Reuters) – Swedish bearings maker SKF 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)