NEWS

<p style="text-align: center;"><img src="/ueditor/php/upload/image/20230613/1686631845114864.png" title="1686631845114864.png" alt="1.png"/></p><p></p><p></p><p></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Swedish manufacturing company SKF has announced a $4.9 million investment to build a magnetic bearings plant in Tangier, Morocco.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">The company announced its project in a press release on Monday, stressing that the plant is part of its approach to increase its “technical and manufacturing capabilities within magnetic bearings.”</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">According to the&nbsp;statement, “the new site will ramp up operations during the second quarter and once fully operational, will help meet the growing demand for magnetic bearings, which have a number of applications within turbomachinery and other high-speed applications, including hydrogen gas liquefaction and for oil-free industrial compressors.”&nbsp;</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">The company’s president Thomas Frost commented on the new project, stressing the importance of magnetic bearings.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">“Magnetic bearings have played a key role in traditional energy segments for many years,” he said, noting that this technology is now playing a key role in green industries.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">“We need to make sure we can maintain our leading position in terms of technical development and customer service. Our new site in Morocco is an important step in this direction.”</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Magnetic bearings are widely used in the&nbsp;industrial&nbsp;sectors, including in industrial machines like compressors, turbines, and generators.</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">Kaman Sensors, a company that specializes in eddy current technology, said that magnetic bearings are proven efficient as they are “quiet and do not require lubrication.”</span></p><p style="text-align: justify;"><span style="font-family: arial, helvetica, sans-serif; font-size: 12px;">The choice of Morocco’s Tangier as a host for the SKF plant reflects the reinforcement of the industrial zone, which is home to giant companies in different fields – including aeronautics and&nbsp;automotive&nbsp;sectors.</span></p><p><br/></p>