GOTEBORG, Sweden, Oct. 8, 2003 (PRIMEZONE) -- SKF GmbH (Other OTC:SKFRY) has decided to discontinue production at its Etzenhofen, Puttlingen plant in Germany by the end of 2004. The factory manufactures plain bearings, which in future will be manufactured at the Schweinfurt plant and also be outsourced.
A competitive market and high production costs at the Puttlingen plant as well as the currency development has negatively impacted profitability, making cost saving measures necessary to restore profitability for the plain bearing business. The closure of the Puttlingen plant will affect some 300 employees.
For further information, please contact: PRESS: Lars G Malmer, SKF Group Communication tel. +46 (0)31 337 1541 e-mail: lars.g.malmer@skf.com IR: Marita Bjork, SKF Investor Relations tel: +46-(0)31-3371994 e-mail: marita.bjork@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/2003/10/08/20031008BIT00280/wkr0002.doc
http://www.waymaker.net/bitonline/2003/10/08/20031008BIT00280/wkr0003.pdf