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Aerospace giant to be partner in new Charleston County facility
SKF Aerospace, a leading manufacturer and supplier of bearings, seals and other aircraft components, is the majority stakeholder in the joint venture planning a new manufacturing facility in Palmetto Commerce Park in North Charleston, according to aviation industry sources.
The company, which is headquartered in Great Britain, is a major supplier to Rolls Royce, Pratt & Whitney, General Electric and other international aerospace companies.
GE is also said to be a participant in the Palmetto Commerce Park venture, according to sources.
Last year, a subsidiary of the company, SKF Aero Bearings, an affiliate of the company, and maker of bearings and anti-friction solutions for aerospace, automotive and manufacturing processes, announced a $6.5 million expansion of its existing facility here.
In July the Charleston County Council approved a fee-in-lieu-of-taxes agreement with a mystery company that will soon be investing $38 million, including $9.7 million for a new manufacturing plant, to be located in the commerce park.
The project, code named “Project SG Ventures,” chose the commerce park site after considering a number of locations throughout the Southeast.
The company plans to employ as many as 80 people here at an average salary of $24 an hour.
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