(April 11, 2011)
Timken India Manufacturing Pvt Ltd, a wholly-owned subsidiary of US-based machine bearings and related components manufacturer The Timken Company, is planning to invest around Rs 200 crore in sales capacity expansion at its facility at Mahindra World City, near Chennai.
The company would also fix its focus in serving the wind energy, cement manufacturing and Power Transmission and Rebuild (PTR) in the future.
The company is currently manufacturing eight to 12 inch bearings in Chennai catering to power infrastructure, construction equipment like earth movers. The second phase of the facility expansion to manufacture zero to eight inch bearings for automotives is in an advanced stage and is expected to start commercial production in this in the first three months of 2012, said Ward J Timken, chairman, The Timken Company.
“In the last few years, our focus was significantly into strengthening operations in China and India also had a place in our expansion plans. With the growth of economy in India, we expect our expansion operations would be balanced in case of China and India,” said Timken.
Timken said the company would commence its third phase of capacity expansion at the Chennai plant. It would set up facilities to manufacture bearings of 12 to 18 inch especially for power transmission equipment industry.
The company is looking to invest around Rs 80-100 crore in the third phase and almost the same amount for the second phase of capacity expansion, said Ajay Das, managing director, Timken India Manufacturing Pvt Ltd and Timken India.
“We have aggressive expansion plans for near future in India and we would be investing Rs 200 crore for additional sales capacity at Chennai,” he said.
The Timken Company also has plans to invest in its Jamshedpur facility, operating under the listed entity, Timken India Ltd. The company has invested almost $1 million in the facility earlier, and would look at investing in around the same range in future, said Ajay Das. However, he refused to comment on the future plans in Jamshedpur facility and Timken India Ltd.
The parent company also has plans to invest in Indonasia and some of the South East Asian countries, said Timken. “We are also willing to invest in our engineering centre in Bangalore,” he added. The company has a 100 per cent owned research subsidiary, Timken Engineering and Research India Pvt Ltd.
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