UPDATE 1-SKF to shut two U.S. car part plants, cut 460 jobs

Newswire

(Adds detail, background, share) STOCKHOLM, June 29 (Reuters) - Sweden's SKF , the world's biggest bearings maker, said on Wednesday it would shut two of its plants in the United States, cutting 460 jobs as it moved some production to Mexico. The net cost of the closure in the second quarter would be 90 million Swedish crowns ($11.6 million), taking into account one-off gains it announced at the same time. "The restructuring of the U.S. automotive industry and the weaker market place ...

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