SKF, the world’s largest bearings manufacturer, has announced its plans to invest 50 million crowns ($4.9 million) in the establishment of a magnetic bearings factory in Tangier, Morocco.
According to a release issued on Monday, the new facility is expected to commence operations in the second quarter of this year, and upon reaching full operational capacity, it will effectively cater to the increasing demand for magnetic bearings.
The utilization of magnetic bearings finds extensive applications in various high-speed sectors, including turbomachinery, hydrogen gas liquefaction, and oil-free industrial compressors, as highlighted by SKF in their statement.
“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,” Thomas Fröst, President, Independent & Emerging Business said.
This strategic investment in Morocco signifies SKF’s commitment to enhancing its production capabilities and meeting the growing market requirements in these specialized areas.
With the establishment of the Tangier factory, SKF aims to leverage the advantages of the region, tapping into its potential as an ideal location for manufacturing operations. The company’s decision to expand into Morocco reflects its confidence in the country’s favorable business environment and its strategic geographical position, enabling efficient distribution of products across different markets.
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