SKF has inaugurated its new factory in Tangier, Morocco, which initially will employ around 60 people. The factory will manufacture components for magnetic bearings and high-speed electric motors, enabling SKF to meet the increased demand for these solutions while strengthening the Group's position as a global leader in this area. The factory will enable the production of modular and scalable products that can be easily integrated into various applications. Due to their ability to operate efficiently at high speeds, free of friction and with minimal maintenance, magnetic solutions are essential for high-speed machinery such as compressors, turbines, and motors, as well as HVAC (Heating, Ventilation, and Air Conditioning) systems, and semi-conductors. "We are excited about the economic and competitive advantages this new facility will bring, positioning SKF as a key partner in the sustainability transformation. By enhancing our supply chain, we can reduce lead times, improve customer delivery performance, and offer competitive solutions. This investment also supports our commitment to sustainability and innovation through decarbonization, electrification, and system intelligence", says Thomas Fröst, President, Independent and Emerging Business. Magnetic bearings allow the contactless levitation of rotors through a controlled magnetic field. SKF's magnetic solutions enable industrial applications to achieve high performance, energy efficiency, and reliability that surpass conventional technological solutions. By minimizing friction and eliminating the need for lubrication, SKF's magnetic solutions reduce the carbon footprint of industrial machinery and play a key enabling role in emerging sustainable energy sectors.