SKF Progress Continues With Bulgarian VMZ Acquisition(pic)
As one of Central Europe's better-known bearing brands, VMZ facilities were at one time almost entirely dedicated to manufacturing military equipment. Its product line includes deep-groove ball bearings from 22mm to 100mm.
Visiting VMZ's Sopot facilities for the first time, SKF CEO Tom Johnstone said, "Bulgaria is a good place to do business. I am very pleased that we decided to invest in Bulgaria and I consider our project here as one of SKF's most successful"
Mr. Johnstone went on to say SKF has so far invested Leva 10 million ($6.3 million) in the Bulgarian facilities.
After receiving ISO 9001 certification in 2003, he said SKF Bearings Bulgaria is now planning to aggressively target export markets, and is on track to double its product line offerings.
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