SWEDEN SKF Bearing

SKF introduced the CARB toroidal roller bearing. The company also formed a joint venture company in Korea to manufacture wheel hub bearing units. Within the same year, majority of a Polish bearing company called FLT Poznan was purchased. A new plant was constructed in Aiken, USA for the production of wheel hub bearing units in 1996. A year later, SKF entered into a new joint venture with the Wafangdian Group to manufacture and sell spherical roller bearings. Within the same year, the company acquired majority shareholding in another bearing company, PT Logam Sari Bearindo in Indonesia. In Ukraine, SKF also bought majority shareholding in Lutsk Bearing Plant. In 1999, the company introduced the SKF Explorer bearings. Over the next several years, SKF entered into joint ventures with leading bearing manufacturers for the production of various types of bearings. More acquisitions of bearing companies were also made during this period such as Aerospace Bearings UK, SBB in Bulgaria, Rolling Stock Supply & Service Pty Ltd in Australia, SNFA SAS, S2M, and US-based General Bearing Corporations. Today, the SKF Group is considered the largest bearing manufacturer in the world.