Release time : 2015-06-12 11:18:41
SKF announces plans to transfer the manufacturing of automotive seals Skateboard Bearings from its facility in Elgin, Illinois, United States to other SKF seals factories in Mexico and the US. The consolidation is necessary to remain competitive in the US automotive market.
The total cost of these activities amounts to around SEK 60 million, whereof SEK 35 million will be taken as restructuring expenses in Q4 this year and SEK 25 million during 2009. The annual benefit of Ceramic Bearings, fully implemented from 2010, amounts to around SEK 30 million.
The consolidation process is expected to take place over a period of 12 months and will affect about 160 employees out of 430 employees in total at the Needle roller Bearings.