Sweden’s SKF Invests $4.9 Mln in Factory in Morocco
SKF, the world’s biggest bearings maker, announced on Monday a $4.9 million investment earmarked for building a manufacturing site in Tangier in Morocco.
The Swedish company said the plant will enable it to meet growing demand for magnetic bearings used in turbomachinery and other high-speed applications, including hydrogen gas liquification and for oil-free industrial compressors.
Thomas Fröst, President, Independent & Emerging Business, says: “Magnetic bearings have played a key role in traditional energy segments for many years. As this technology is now playing a central role in green industries, we need to make sure we can maintain our leading position in terms of technical development and customer service. Our new site in Morocco is an important step in this direction.”
Magnetic bearings are one of SKF’s technology growth areas. The company manufactures and supplies bearings, seals, lubrication and lubrication systems, maintenance products, mechatronics products, power transmission products, condition monitoring systems and related services globally.
It employs 44,000 people in 108 manufacturing units. It has the largest industrial distributor network in the industry, with 17,000 distributor locations encompassing 130 countries.