SKF has announced that the financial markets will focus on achieving its financial objectives, with an investment dedicated to the automation of its factories amounting to 150 million Swedish kronor.
At a day dedicated to financial markets in Schweinfurt (Germany) at the end of last year, SKF shared the evolution of its strategic and financial vision and the group's operational perceptions.
The focus was on value propositions around the performance of revolving equipment and on activities being implemented to reduce the need for net working capital.
The group's investments in product development manufacturing were also presented, as well as achievements and strategic axes to be preferred in the automotive industry.
The group continues to undergo its transformation and has announced two investments totalling 150 million Swedish kronor including:
- an automated production line, with flexible machining technology, for rollers used in large bearings in Schweinfurt, Germany;
- two new automated production lines being installed at the St Cyr-Sur-Loire site in the Loire Central-Val region. It is a new assembly line, called flexible to control and an automated packing cell for the entire range of rigid ball bearings (DGBBs).
These two investments contribute to increasing SKF's objective of competitiveness, flexibility and quality and are expected to be completed in the first half of 2020.