SKF, GE: Aviation to set up manufacturing firm

Karachi: SKF and GE Aviation have agreed to establish a new company, which will manufacture and refurbish bearings for GE's engines for large aircrafts, says a press release.

The new company, with SKF holding 51 percent and GE Aviation 49 percent, will be consolidated into the SKF Group and represents an investment of some $28 million, excluding the building that will be teased, the release said.

The bearings will be manufactured for GE Aviation and its affiliate. The new company will be located in Charleston, South Carolina in the USA. It will start deliveries during 2008 and will have about 100 employees when in full production. SKF is one of the world's largest producers of bearings for the aero engine market and GE is the global market leader for large aero engines.