Swedish SKF transfers production from South Korea to China, India, Mexico
Time:Thu, 14 Dec 2023 09:41:39 +0800
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SKF, a Swedish bearing and seal manufacturing company founded in Gothenburg, Sweden, announced that it would close its plant in Busan, South Korea, in the first quarter of 2024 and transfer the production to existing facilities in China, India, and Mexico.
SKF indicated that transferring supply could bring the company closer to its existing customers and provide more new local business opportunities.
In addition, the decision was also in line with the Group's Automotive strategy and the ongoing portfolio re-positioning towards the electric vehicle drivetrain and commercial vehicle fields.
