SKF, a Swedish maker of industrial lubrication systems, opened on Tuesday its factory at the NorthPark business park near Lambert St. Louis-International Airport.
The 310,000-square-foot factory includes engineering, manufacturing and testing operations, plus sales, marketing and administrative offices as well as a distribution center.
“SKF’s investment in Missouri is a tremendous vote of confidence in this region’s workforce and business climate,” Gov. Jay Nixon said in a statement. “This state-of-the-art facility strengthens our position as a hub for advanced manufacturing jobs.”
SKF is moving to the NorthPark factory in phases from its old factory just off Goodfellow Boulevard in St. Louis. Some functions already have moved. Relocation of manufacturing and product assembly is expected to be completed in August, the company said.
Officials have said SKF’s approximately $55 million NorthPark project will preserve the 388 jobs at the St. Louis plant and generate 73 additional jobs. Among the public incentives for the project is one from Missouri Works program, which provides tax breaks based on jobs created, officials said.
SKF bought the St. Louis factory — part of which dates to 1916 — as part of its purchase in 2010 of Lincoln Industrial Group from Harbour Group, a Clayton-based private equity firm. SKF, based in Gothenburg, Sweden, paid $1 billion for Lincoln, a maker of lubrication pumps.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"TradeBearings".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
