November 29, 2018 / 7:27 AM / 17 days ago

Sweden's SKF to invest $17 mln in automation

STOCKHOLM, Nov 29 (Reuters) - Sweden’s SKF, the world’s largest maker of industrial bearings, is investing 150 million Swedish crowns ($17 million) to increase competitiveness by automating some manufacturing, it said on Thursday.

The company, which has about a 100 manufacturing facilities around the world, said it would automate a production line in Germany that makes rollers for large-size bearings and another in France that assembles deep groove ball bearings.

“Both investments contribute to increased competitiveness, flexibility and quality and are expected to be completed during the first half of 2020,” it said in a statement issued ahead of the start of its capital markets day in Germany.

SKF is working to modernize, consolidate and automate its factories. In November it announced it was building a new factory in China, replacing three others.

$1 = 9.0291 Swedish crowns Reporting by Johannes Hellstrom and Esha Vaish in Stockholm; Editing by Simon Johnson

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