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    SKF closes factory in South Korea, ups localization in Americas and Asia
    Sweden-based SKF, a supplier of rolling bearings, seals, mechatronics and lubrication systems, has announced the transfer of product supply from its factory in Busan, Korea to factories in China, India, and Mexico, according to a press release dated. This move is part of the company's strategy to regionalize its operations and better serve its customers. The Busan factory, which employs approximately 90 employees and primarily manufactures bearing products for the automotive industry, will be...
    Michelin plans to close three production plants in Germany
    French tiremaker Michelin has announced that it will be closing three production sites in Germany and transferring its customer service center to Poland, due to a lack of competitiveness of its German operations in European and export markets, according to a press release on Nov. 28. The closure will affect 1,532 jobs by the end of 2025. Michelin currently employs over 8,000 people across Germany, Austria and Switzerland. The company has included an approximately €425 million provision in i...
    Sweden’s SKF closes spherical roller bearing factory in Luton, UK
    Sweden-based SKF, a supplier of rolling bearings, seals, mechatronics and lubrication systems, has confirmed the proposed closure of its factory in Luton, UK, following a consultation process with employees and union representatives, according to a press release dated October 17. The move follows the company’s announcement on May 31 of a consolidation of its spherical roller bearing manufacturing as part of its strategy to invest in automation and regionalization, and “right size its manu...
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