Swedish manufacturer scraps Naperville R&D center
Resource from: Crain's Chicago Business Likes:272
Aug 27,2015
A Swedish manufacturer is scrapping plans to move into a new 130,000-square-foot research and development center in Naperville that would have employed at least 80 people.
Gothenburg, Sweden-based SKF Group is seeking a tenant to sublease the new facility at 1203 E. Warrenville Road, which it initially planned to open in October, said company spokesman Walt Delevich.
The company, which makes parts such as ball bearings, lubrication systems and seals for heavy equipment and automobiles, signed a 15-year lease for the building, according to real estate data provider CoStar Group.
The exterior of the building, which is being developed by longtime suburban developers William Krug and Daniel Murphy, has been completed. The interior buildout has not been started on the space, which had been planned as a mix of offices and a light manufacturing section with higher ceilings, Delevich said.
“We intend to honor the terms of the lease, but we decided it was an opportune time to allow someone to sublease it at this stage so they could build the interior to their needs,” he said. “The shell has been completed. With the ability to modify the interior, we believe that will allow us to find a tenant that will be there for the length of the lease.”
Bruce Hopple, a senior vice president at Chicago-based real estate brokerage DTZ who represents SKF, declined to comment.
CUTTING 1,500 JOBS
The decision comes about a year after then-Gov. Pat Quinn announced the plan from SKF, which would have received $2.2 million in tax credits over 10 years from the state. The announcement identified the identity of the company behind “Project Panda,” the code name it went by in securing zoning and the state tax credits.
SKF decided to step back from the project as it plans to trim 1,500 employees internationally amid a slowdown its business, much of which is tied to a decline in commodities prices, Delevich said.
“In early 2014, we were hoping for a more robust global recovery,” he said. “This project has been under review for several months, and work slowed down as we were going through this review.”
SKF has about 390 employees combined at facilities in Elgin and Waukegan, he said. The company already has research and development facilities in the Netherlands, India and China, as well as product development labs within some of the company's 65 facilities in the U.S., he said.
The company has notified the state of its intention to scrap the project, for which it has not received any state money, Delevich said.
(Crain's Chicago Business)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Previous Predictive maintenance of rail traction motors through depot-based condition monitoring
Next Winergy offers more options for maintenance and service of wind-turbine gearboxes
Next Winergy offers more options for maintenance and service of wind-turbine gearboxes
BRIEF INTRODUCTION
Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.
Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.
China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.
