Gabriel India (a division of Anand Automotive Systems, India) has opened a new engine bearing manufacturing operation at its existing plant in Parwanoo, Himachal Pradesh.
The new operation is an export-oriented unit (EOU). Anand Chairman, Deep C. Anand, said: "The EOU will provide an impetus to the overall growth of the company."
The EOU will focus on producing engine bearings destined for European and North American automakers. By early 2007, Anand's additional investment in the venture is expected to be in the neighborhood of Rs 40 million (USD $850,000).
Beyond bearings, Gabriel India is India's largest manufacturer of shock absorbers and McPherson struts assemblies. It started in 1961 as a joint venture with Gabriel Products Company (USA).
From current sales of Rs 60 million ($1.3 million), Gabriel said it intends to quickly boost engine bearing capacity and sales to Rs 150 million ($3.2 million).
The engine bearing manufacturing operation at Parwanoo started as a joint venture with Federal-Mogul Corp. in 1978. Today, it is a standalone division running near capacity of 20 million bearings per year.
Mr. Anand pointed out Gabriel's importance to the depressed Parwanoo area: "Gabriel was one of the first companies to set up a facility in Parwanoo, a notified backward area then. This not only helped to promote the industrial development of the township but also created better employment opportunities for the local people. Today Anand runs the Himachal primary school and dispensary for the residents of Parwanoo."
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