SKF Monterrey closes its plant and relocates

The SKF industrial group announced the closure of its plant in Monterrey as part of a restructuring of its manufacturing operations in the Americas, resulting from the spin-off of its automotive business and slower-than-expected growth in the electric vehicle market.

The company reported that the factory will cease operations and that its production capacity will be transferred to strengthen its automotive operations in Puebla, as well as its industrial business in La Silla, also located in the Monterrey metropolitan area; this is aimed at improving operational efficiency under the new organizational model.

The Monterrey plant was originally conceived as a shared complex between the industrial and automotive divisions, with the aim of addressing the projected growth of electrification in the region; however, following the decision to spin off both businesses—and given the electric vehicle market’s underperformance—the facility ceased to be strategic within the company’s operational framework.

The closure will have a significant impact on employment, with the elimination of approximately 390 jobs in Monterrey. At the same time, the creation of about 100 new positions at the Puebla and La Silla plants is anticipated as part of the operations relocation process.

In financial terms, SKF estimated that the costs associated with this consolidation amount to approximately US$53 million, which will be recorded in the second quarter of 2026 as part of the items affecting comparability in its annual results.

With this decision, SKF is moving forward with the consolidation of its production structure in the Americas, adjusting its installed capacity to current market conditions and its new corporate structure.