April 8, 2010 (FinancialWire) — SKF (STO: SKFA) (STO: SKFB) (LSE: SKFB) (OTC: SKFRY), a Swedish supplier of bearings, seals, mechatronics, services and lubrication systems, said it will open two new factories in India this week.

At the end of last year SKF inaugurated a Global Testing Center in Bengaluru and a Solution Factory in Pune. The company has been present in India for more than 85 years and now has five factories in India.

The company opened a factory in Haridwar on 7 April that will primarily serve the two wheeler manufacturers in Uttarakhand and the vehicle aftermarket in India. SKF said the investment amounts to around SEK 250 million and the factory will employ around 200 people.

The other factory, in Ahmedabad, will open on 8 April and will manufacture medium to large size bearings of various types to serve customer segments such as railways, wind and heavy industries. The investment amounts to around SEK 450 million and the factory will employ around 300 people when full capacity is reached.

Sweden-based SKF operates in more than 130 countries and has 15,000 distributor locations worldwide.

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