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home / news releases / SKFRY - SKF to park money in magnetic bearing manufacturing

SKFRY - SKF to park money in magnetic bearing manufacturing

Aktiebolaget SKF ADR

2023-05-22 03:28:45 ET

SKF ( OTCPK:SKFRY ) increases technical and manufacturing capabilities through SEK 50M investment in a new manufacturing site in Tangier, Morocco.

The new site will ramp up operations during Q2 and once fully operational, will help meet growing demand for magnetic bearings.

The group secured a record order intake for these products of over SEK 1B in 2022.

For further details see:

SKF to park money in magnetic bearing manufacturing
Stock Information
Company Name: Aktiebolaget SKF ADR
Stock Symbol: SKFRY
Market: OTC
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