SKF Invests in New Factory for Large Bearings in India

GOTEBORG, Sweden--(BUSINESS WIRE)--June 7, 2007--SKF (NASDAQ:SKFR) (STO:SKFA) (STO:SKAB) (LSE:SKFB) has decided to invest SEK 450 million to build a greenfield factory in India for the manufacturing of large size bearings.

The factory is expected to start manufacturing in 2008 and will, when fully utilized, employ some 300 persons.

This is a further investment that SKF is making to support the

strong global demand for large size bearings, driven by the

fast growth in segments such as wind energy, mining, steel and

off-road segments, says Mr Tom Johnstone, President and CEO of

SKF.

Last year SKF inaugurated a new factory for large size bearings in China and at the beginning of this year announced a large investment in its Swedish factory in Goteborg to increase the capacity for large size bearings.

With this new investment and the investment announced earlier

this year in a factory for ball bearings in India, the SKF

Group will have five manufacturing sites in the country. SKF

has been present in India since 1923 and in recent years we

have a strong development of our business in India. These

investments show our continued commitment to the fast growing

Indian market, Mr Johnstone said. The new factory will supply

the Indian market as well as the international markets.

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CONTACT: Aktiebolaget SKF

Lars G Malmer, SKF Group Communication

Tel. +46 (0)31 337 1541

Mobile: +46 (0)705-371541

Lars.G.Malmer@skf.com

Marita Bjork, SKF Investor Relations

Tel: +46 (0)31 337 1994

Mobile: +46 (0)705-181994

marita.bjork@skf.com

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