ThyssenKrupp AG (Germany) will aggressively invest in expanding its PSL Bearing division's manufacturing facilities in Povazská Bystrica, Slovakia [website].

The aim of the two year, 2 billion crown (USD $90 million) project will be to boost production of large bearings and slewing ring bearings destined for the wind power turbine market.

Currently, PSL's large bearing output is valued in the range of 4 billion crowns ($180 million); the plant expansion should push that to more than 6 billion crowns ($270 million)

PSL currently employs approximately 1,100 workers; that will jump to over 1,300 when the project is complete and fully online.

More than 90% of PSL's bearings are exported; the division has sales offices and warehouses in Germany, Russia, and the United States.

ThyssenKrupp also has the Rothe Erde subsidiary with an often-parallel product line in bearings, but PSL and Rothe Erde operate as separate entities.