GOTEBORG, Sweden, Aug. 26, 2003 (PRIMEZONE) -- SKF USA Inc. (Nadsdaq:SKFR) (LSE:SKFB) has announced plans for consolidating manufacturing operations to improve the company's long-term competitive position. The plan involves a gradual phase-out of operations at the Altoona, Pennsylvania facility and the Jamestown facility in the state of New York.
The majority of production will be transferred to other facilities in the United States and a minor part to Mexico. The Altoona plant manufactures a specific assortment of ball bearings, primarily for US-based industrial customers. The plant in Jamestown manufactures specialty and aeroengine bearings, also mainly for the US market.
The process for phasing-out the facilities is expected to take place over a period of at least 12 months and some 300 employees will be affected.
Goteborg, August 26, 2003 Aktiebolaget SKF (publ.) For further information, please contact: Lars G Malmer, SKF Group Communication, tel. +46 (0)31 337 1541, e-mail: Lars.G.Malmer@skf.com
Aktiebolaget SKF, SE-415 50 Goteborg, Sweden, tel. +46 (0)31 337 1000, fax +46 (0)31 337 2832, www.skf.com
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/08/26/20030826BIT00820/wkr0001.doc
http://www.waymaker.net/bitonline/2003/08/26/20030826BIT00820/wkr0002.pdf
http://www.waymaker.net/bitonline/2003/08/26/20030826BIT00820/wkr0003.doc
http://www.waymaker.net/bitonline/2003/08/26/20030826BIT00820/wkr0004.pdf