Sweden's SKF, a large bearing producer, in 2009 invested almost UAH 100 million in OJSC SKF Ukraine (Lutsk, Volyn province), the Lutsk enterprise's PR center has reported.
The investment allowed the opening of a new rolling workshop, creating 72 jobs.
"A significant investment has been approved for 2010 as well," a press release reads.
According to the press release, the small-size tapered bearing production line will be transferred from Schweinfurt (Germany) to Lutsk.
The press release reads that 2009 was complicated for the enterprise because world truck production fell by 61.9%. As a result, SKF Ukraine’s sales dropped by 36%.
The company said that during the year 28% of its staff was laid off, but each such worker received an eleven months’ salary severance benefit.
The average wage at the enterprise is around UAH 2,800 per month.
OJSC SKF Ukraine produces bearings and components for the bearing plants of Sweden’s SKF Sweden’s SKF owns a 99.716% stake in the Ukrainian enterprise. SKF was established in Sweden in 1907. It includes about 100 enterprises and trade companies in over 130 countries.
