Sweden-based global bearing manufacture SKF has invested $70 million to build its fourth production plant in the northern state of Nuevo León, the state government reported.
In the first stage, the new plant will hire 600 people to produce 20 million steel bearings per year and in two more years they could multiply that production up to five times. At that time, the plant will have 1,200 people hired.
“By 2024 we will be producing 20 million bearings and in the coming years production will grow four to five times more,” said Kerstin Enochsson, the global president of SKF's automotive division, according to the newspaper El Economista.
With four plants in Nuevo León and one more in the central state of Puebla, the company employed 1,837 people as of the end of last year, according to company information seen by SteelOrbis.
The company will produce steel bearings for the automotive industry, the industrial sector and the agricultural industry.