SKF and GE Aviation Enter into a Partnership
GOTEBORG, Sweden--Regulatory News:
SKF (NASDAQ:SKFR) (STO:SKFA) (STO:SKFB) (LSE:SKFB) and GE Aviation have agreed to establish a new company, which will manufacture and repair bearings for GE's engines for large aircraft.
The new company, with SKF holding 51% and GE Aviation 49%, will be consolidated into the SKF Group and represents an investment of some USD 28 million, excluding the building that will be leased. The bearings will be manufactured for GE Aviation and its affiliate. The new company will be located in Charleston, South Carolina in the USA. It will start deliveries during 2008 and will have about 100 employees when in full production.
SKF is one of the world's largest producers of bearings for the aero engine market and GE is the global market leader for large aero engines.
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AB SKF may be required to disclose the information provided herein according to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 11.30 on 7 December 2007.
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This information was brought to you by Cision http://newsroom.cision.com
Contacts
SKF Group Communication
PRESS: Lars G Malmer, +46 31-337 1541
mobile: +46 705-371541
lars.g.malmer@skf.com
IR: Marita Bjork
SKF Investor Relations, +46 31-337 1994
mobile: +46 705-181994
marita.bjork@skf.com
www.skf.com
SKF (NASDAQ:SKFR) (STO:SKFA) (STO:SKFB) (LSE:SKFB) and GE Aviation have agreed to establish a new company, which will manufacture and repair bearings for GE's engines for large aircraft.
The new company, with SKF holding 51% and GE Aviation 49%, will be consolidated into the SKF Group and represents an investment of some USD 28 million, excluding the building that will be leased. The bearings will be manufactured for GE Aviation and its affiliate. The new company will be located in Charleston, South Carolina in the USA. It will start deliveries during 2008 and will have about 100 employees when in full production.
SKF is one of the world's largest producers of bearings for the aero engine market and GE is the global market leader for large aero engines.
_________________________________________________________________
AB SKF may be required to disclose the information provided herein according to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 11.30 on 7 December 2007.
_________________________________________________________________
This information was brought to you by Cision http://newsroom.cision.com
Contacts
SKF Group Communication
PRESS: Lars G Malmer, +46 31-337 1541
mobile: +46 705-371541
lars.g.malmer@skf.com
IR: Marita Bjork
SKF Investor Relations, +46 31-337 1994
mobile: +46 705-181994
marita.bjork@skf.com
www.skf.com
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