Gothenburg, 3 November 2016: SKF is investing SEK 150 million in modernizing its cylindrical roller bearing (CRB) manufacturing in Schweinfurt, Germany. This is the third significant manufacturing investment announced by SKF in the last 18 months, following the announcement of similar investments in Gothenburg, Sweden and Flowery Branch, USA. The investment in Schweinfurt will involve the implementation of the latest technologies within machining, assembly and packaging and will result in older production channels being replaced by largely automated, world-class technologies. Luc Graux, President, Bearing Operations, says: “We are very excited to be ramping up our investments in developing world-class manufacturing within SKF. The automated assembly and zero reset-time of the channel will greatly improve our flexibility and lead-times for medium- and small-size lots of standard CRB products. Our ambition is to launch pilot projects such as these across all of our main product lines, before replicating them across other manufacturing sites.” “Together with our projects in Gothenburg and Flowery Branch, we have now announced almost SEK 500 million of investments in upgrading and digitalising our factories during the last 18 months. Ensuring we develop flexible and modern manufacturing processes is essential in supporting SKF’s growth and profitability ambitions.” The investments announced today are expected to be completed by the middle of 2018. Aktiebolaget SKF (publ) For further information, please contact: PRESS: Theo Kjellberg, Director, Press Relations tel: +46 31 337 6576, mobile: +46 725-776576, e-mail: theo.kjellberg@skf.com INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations Patrik Stenberg, +46 31-337 2104; +46 705-472 104; patrik.stenberg@skf.com SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 17,000 distributor locations worldwide. Annual sales in 2015 were SEK 75 997 million and the number of employees was 46 635. www.skf.com ® SKF is a registered trademark of the SKF Group.