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SKF to move production from Illinois factory

SKF to move production from Illinois factory

Swedish bearings maker AB SKF said Monday it plans to move the production of automotive seals from a factory in Illinois, affecting about 160 jobs.
SKF said it had to transfer production from the facility in Elgin, Illnois, to other factories in Mexico and the U.S. to remain competitive in the American automotive market.
"The consolidation process is expected to take place over a period of 12 months and will affect about 160 employees out of 430 employees in total at the Elgin site," the Goteborg, Sweden-based company said.
The move would cost 60 million kronor ($7.5 million) and was expected to yield annual savings of 30 million kronor ($3.8 million) starting in 2010.


Updated : 2021-06-13 05:10 GMT+08:00