Charleston Regional Development Alliance

Berkeley, Charleston & Dorchester Counties

Printed from www.crda.org

SKF and GE Aviation jointly establish manufacturing facility in Charleston, SC

Dec. 4, 2007
GE Aviation News Release
SKF Group and GE Aviation are jointly establishing a new facility here to manufacture and repair bearings for GE jet engines.

Venture Aerobearings LLC, is slated to begin operation by mid-2008 from a newly leased facility. Based on current demand for jet engines, GE and SKF expect the facility to employ up to 100 people when fully operational in 2009.

Buoyed by continuing sales success of its high-thrust jet engines for airlines worldwide, GE production has been increasing at a double-digit rate since 2005, driving demand for precision bearings. SKF is one of the world’s largest producers of bearings for jet engines.

“The joint venture combines the considerable experience in engineering and manufacturing of both companies,” said Eric Hinton, president of Venture Aerobearings. “We selected Charleston for the site based on the region’s skilled workforce, and through the support of state and local development authorities.”

The bearings support and enable the free rotation of the main shaft running through the jet engine, and thus, must withstand considerable loads. As a result, the production of bearings requires precise manufacturing processes. Bearings are manufactured from hardened steel alloys.

"We are extremely proud to welcome this joint venture to our growing aerospace hub,” said Robert L. Pratt, CCIM, Chairman of the Charleston Regional Development Alliance. “Given the stature of these companies and the magnitude of this investment, this is a real win for the region, and it will have a tremendous impact on the local economy.

“Congratulations to GE Aviation and to SKF on this innovative joint venture,” said Tim Scott, Chairman of Charleston County Council. “Both of these companies represent the ‘gold standard’ in aviation, and their collaboration here in Charleston is the ultimate testimonial for our region. Their presence further distinguishes our growing aerospace cluster.”

North Charleston Mayor Keith Summey also welcomed the news. “This announcement reconfirms our region’s growing reputation among the world’s leading technology companies,” he said. “The City of North Charleston is especially proud to play such an important role in advancing the Charleston regional economy. The high-end jobs created by Venture Aerobearings represent our future, and we look forward to working with this exciting company for many years to come.”

“Our state’s continued growth in aerospace increases South Carolina’s ability to compete in a global economy for jobs, capital investment, and the types of businesses that will fuel the state’s economy now and in the future. As well, today’s announcement is another sign that our efforts to enhance the state’s business climate are working to recruit new investment and grow industry. We remain committed to continuing these efforts to create opportunity for more South Carolinians,” said Gov. Mark Sanford.

Secretary Joe Taylor added, “Aviation continues to be an industry with extraordinary potential for South Carolina and today’s news is further testament to the strength of our workforce. This joint venture between SKF and GE Aviation brings together the very best in skills and expertise to produce a quality product. Venture Aerobearings is certainly a welcomed addition to the state’s business community.”

Based in Sweden, the SKF Group is the leading global supplier of products, solutions and services in the area comprising rolling bearings, seals, mechatronics, services and lubrication systems. SKF has 100 manufacturing sites worldwide. For more information, visit www.skf.com.

GE Aviation, an operating unit of General Electric Company (NYSE: GE), is a world-leading provider of commercial and military jet engines and components as well as integrated digital, electric power, and mechanical systems for aircraft. GE Aviation also has a global service network to support these offerings. For more information, visit www.ge.com/aviation.

Rick Kennedy
(513) 243-3372 | rick.l.kennedy@ge.com

Deb Case
(513) 243-0094 | deborah.case@ge.com


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