SKF Expanding Malaysian Facilities

SKF Expanding Malaysian Facilities SKF Bearing Industries Sdn Bhd (Malaysia, a division of SKF AB, Sweden; Stockholm: SKFA) said it is aggressively moving to expand its plant in Nilai, Malaysia. Opened in 1992, the plant manufactures roller bearings and self-aligning ball bearings, primarily for export markets in Asia and North America. There is also a spindle service center at Nilai. Following the investment program, SKF Nilai should be able to boost its yearly production by more than 50%, to at least 400 million Ringgits (USD $115 million). Current production and sales are in the neighborhood of RMy270 million ($77 million). By the end of 2008, SKF will have invested RMy100 million ($29 million) at Nilai -- RMy20 million in 2006, RMy70 million in 2007, and RMy10 million in 2008.