SKF – a Sweden-based supplier of bearings and seals, among other products – has announced it is investing about $30.6 million in a new factory at its existing SKF Campus in Cajamar, Brazil.
The 6,600 square-meter facility will employ up to 150 people and produce Kaydon slewing ring bearings for wind turbine manufacturers providing solutions to the Brazilian market. SKF acquired U.S.-based Kaydon Corp. in October 2013. The Swedish company says its presence in Brazil dates back to 1915 and this new investment allows it to capitalize on the country's fast-growing wind energy sector.
"Kaydon's market-leading position within renewable energy in North America, combined with SKF's global footprint and the investment in Brazil, creates one of the strongest portfolios and service offerings available today," says Tom Johnstone, SKF President and CEO.
Production at the new factory is scheduled to commence during the second half of 2015.
