SKF invests in magnetic bearing manufacturing to meet increasing demand

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20230522/1684742585380142.png" title="1684742585380142.png" alt="3.png"/></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">SKF is increasing its technical and manufacturing capabilities within magnetic bearings through an investment totaling SEK 50 million in a new manufacturing site in Tangier, Morocco.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">The new site will ramp up operations during the second quarter and once fully operational, will help meet growing demand for magnetic bearings, which have a number of applications within turbomachinery and other high-speed applications, including hydrogen gas liquification and for oil-free industrial compressors. &nbsp;</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Thomas Fr?st, President, Independent &amp; Emerging Business, says: “Magnetic bearings have played a key role in traditional energy segments for many years. As this technology is now playing a central role in green industries, we need to make sure we can maintain our leading position in terms of technical development and customer service. Our new site in Morocco is an important step in this direction.”</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Magnetic bearings are one of SKF’s technology growth areas. The Group secured a record order intake for these products of over SEK 1 billion in 2022.</span></p><p><br/></p>