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2014-08-11

SKF: SKF establishing Global Technical Center in United States to strengthen global network

SKF continues its commitment to R&D and to North America by investing
in a new Global Technical Center in the US. The center will
initially employ approximately 80 engineers within the first four
years of operation, with plans to expand to 200 in subsequent years.

Gothenburg, Sweden, 11 August, 2014: SKF today announced plans to
build a new 12,100 m2 (130,000 sq. ft.) facility in the greater
Chicago area. The Global Technical Center Americas (GTCA) reinforces
SKF's strategy to have these Centers near its important customers to
focus on market specific product innovations, leveraging all of SKF's
five platforms - bearings, seals, mechatronics, lubrication systems
and services. It joins two centers recently opened in China and
India, while the two new European centers are under construction, one
in Holland and one in Sweden.

"One of SKF's driving forces is to continue to deliver world leading
research and innovation and to develop products which deliver
significant energy savings for our customers," says Tom Johnstone,
SKF President and CEO. "This newest center will strengthen our global
network of technical centers that support each of our key regions.
The Naperville, Illinois-based R&D center will complement our
existing technical center in Plymouth, MI and help drive our growth
ambitions for the US market. Over the past five years investments of
over USD 2.5 billion (SEK 17 billion) have been made by SKF in the US
both by building new facilities and the acquisition of the
lubrication company Lincoln Industrial and most recently Kaydon
Corporation."

"We have long been recognized as the world technical leader and
innovator in our field," states Poul Jeppesen, President of SKF USA
Inc. "The GTCA will bring world-class SKF knowledge and experience
closer to our customers in order to increase the speed of delivering
new products and solutions to market. Our engineers will be working
more closely with our customers in order to solve tomorrow's
engineering problems today, tackling challenges from energy
efficiency to reliability and increased productivity. GTCA will also
strengthen our connections to the excellent university research work
in North America."

SKF plans to initially invest approximately USD 30 million (SEK 200
million), including employing around 80 engineers, during Step 1,
which should be completed within four years. Eventually the facility
may house up to 200 employees. Construction begins this fall and
operations are expected to begin by the end of 2015. Recruitment of
the first wave of engineers and technical specialists will begin in
September 2014.

Aktiebolaget SKF
(publ)

For further information, please contact:
Media Hotline: +46-31 337 2400
Press Relations: Ingalill Östman, 46 31-337 3260, mobile: 46
706-973260, ingalill.ostman@skf.com

Investor Relations: Marita Björk, 46 31-337 1994, mobile: 46
705-181994, marita.bjork@skf.com

SKF is a leading global supplier of bearings
(http://www.skf.com/portal/skf/home/products?contentId=876709&lang=en),
seals
(http://www.skf.com/portal/skf/home/products?contentId=238358&lang=en),
mechatronics
(http://www.skf.com/portal/skf/home/products?contentId=447144&lang=en),
lubrication systems
(http://spider.skf.net/skf/portal/index.nsf/0/64532BF65D70865CC1256F95002...),
and services
(http://www.skf.com/portal/skf_lub/home/services?contentId=867934&lang=en)
which include technical support, maintenance and reliability
services, engineering consulting and training. SKF is represented in
more than 130 countries and has around 15,000 distributor locations
worldwide. Annual sales in 2013 were SEK 63,597 million and the
number of employees was 48,401. www.skf.com

® SKF is a registered trademark of the SKF Group.

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http://news.cision.com/skf/r/skf-establishing-global-technical-center-in...
http://mb.cision.com/Main/637/9626144/273373.pdf

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