Swedish engineering company finds its bearings in Tangiers
Sweden’s SKFÂ (SKFb.ST) is investing 50 million crowns ($4.9 million) in a magnetic bearings factory in Tangier in Morocco, the company said on May 22nd, reports Reuters.
“The new site will ramp up operations during the second quarter and once fully operational, will help meet growing demand for magnetic bearings,” the world’s biggest bearings maker said in a statement.
Magnetic bearings has applications within turbomachinery and other high-speed applications such as hydrogen gas liquification and oil-free industrial compressors, it said.
