SKF Plans to Set up Railway Bearing Plant in Russian

Recently, SKF Bearing company's announced that it would do a investment of 235 million SEK on steing uo a plant in Russia. The new plant will mainly produce tapered bearing components to meet the needs of the rapidly growing Russian railway market. This investment will further strengthen SKF company leading position in the world in the railway industry.

The new plant hasn’t determined the address yet. It is expected to set up near the area in Moscow. The new plant is expected to start in September 2008 and be put into production in 2010. It would employ about 150 staff. Russian Railways is the world's largest railway transport system investors, including the investment the railway locomotive and 25% investment to expand the railway network. At present, the Group is rebuilding its infrastructure and railway locomotives and other rail transport system.

Currently, Russia is in the technology transition. The state actively introduce tapered bearing components to replace cylindrical roller bearings and axle boxes. As the world's rail market top tapered bearing components supplier, SKF, wants to do a larger investment in order to occupy a larger share of the Russian market.