SKF Acquires Full Ownership of One of Its Joint Venture Companies in China

SKF Acquires Full Ownership of One of Its Joint Venture Companies in China SKF, has acquired the remaining 40% shareholding in SKF (Shanghai) Bearing Company Ltd., to become a fully owned SKF production subsidiary in China. SKF (Shanghai) Bearings Company Ltd., was originally set up in 2002 as a joint venture with the Shanghai Electric Group Corporation to produce high quality small deep groove ball bearings primarily for the Chinese domestic market. The factory is fully operational and currently employs more than 200 people.