German component supplier Schaeffler has reiterated its focus on making India a key manufacturing hub. And for this, it has announced an investment of Rs 200 crore for expanding its operations at INA Bearings at Talegaon, Pune, according to a company statement.
The expansion will include a new manufacturing facility and a R&D centre within the existing premises. The groundbreaking ceremony for the new plant has been held at Pune.
The new production facility will manufacture engine and transmission components, serving the domestic and export markets. The R&D facility will focus on enhancing product development and engineering capabilities driving innovation for customers.
Schaeffler India’s INA Bearings is the supplier of engine, transmission and chassis components, including needle roller bearings and grew 15 per cent in CY16. The Pune plant, currently running at full capacity, employs 700 people and with the new facility it is expected to generate additional employment in the future.
According to ETAuto, Dharmesh Arora, CEO, Schaeffler India, said: “We see exceptional opportunities as the economy strengthens in the near to mid-term and mobility environment continues to evolve for technology suppliers like Schaeffler. This new facility will help us add capacity and enhance our product portfolio to serve our customer needs of the future. This investment is part of our larger strategic growth plan for India rolled out earlier called ‘Mobility for Tomorrow’.”
Schaeffler is in the process of merging its two unlisted entities, INA Bearings India and Luk India, with the listed entity Schaeffler India.
The combined entity would make Schaeffler India a leading automotive and industrial supplier, offering a full range of solutions in engines, transmissions and chassis components for automotive applications and a wide range of ball and roller bearings, housings and services across all industrial applications.
