Swedish supplier AB SKF, the world's largest producer of bearings, began construction of a new factory in the east China city of Jinan.
The factory will manufacture tapered roller bearings and truck hub units for vehicle producers in China and elsewhere in Asia, SKF said in a statement.
With an investment of SEK 590 million ($92.4 million), the factory will start operations by the first half of 2012. The plant will initially employ 500 workers.
SKF currently operates 11 automotive and non-automotive plants in China, which produces bearings, seals, lubrication systems among other products.
Source: Staff and Wire Reports