The earlier announced SKF factory in Russia will be located in Tver.

SKF has signed an investment agreement with the Tver Region Administration to build a plant for manufacturing of bearing units for railway wheel sets. The facility will be in operation January 2010 .

With the new plant SKF will take a leading position as bearing supplier to the Russian Railways, RZD, in their technology shift from conventional axlebox mounted roller bearings to sealed tapered roller bearing units of modern SKF technology.

Construction of the green field bearing plant, on a land plot of 100 000 square meters, will start mid this year and be finished by the end of next year.

"We are delighted to welcome SKF in Tver," says Dmitry Zelenin, Governor of Tver Region Administration. "Our region is in rapid growth and attracts investors from all over the world. It is a great pleasure for us to have SKF investing in our region showing strong commitment to the railway industry here in Tver," continues Mr Zelenin.

"Russia is a very important railway market which, is in a dynamic phase of growth," says Tom Johnstone, President and CEO of the SKF Group. "SKF is working actively in this market and the investment in Tver will both support our growth in Russia and strengthen SKF's position within the global railway market" Tom Johnstone continues.

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