SKF and GE Aviation have agreed to establish a new company, which will manufacture and repair bearings for GE's engines for large aircrafts. The new company, with SKF holding 51% and GE Aviation 49%, will be consolidated into the SKF Group and represents an investment of some USD 28 million, excluding the building that will be leased.

  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.