SKF India, the leading technology and solutions provider of bearings, seals and related products, has commenced work for the new manufacturing site in Haridwar, Uttarakhand.
By January 2010, the state of the art SKF technology will be operational. The company will invest Rs1500mn in this project and is also planning to employ more than 200 people.
This plant will specifically target the automotive market segment in India. It is situated over an area of 10 acres and the new bearing factory will have a production capacity of 40 million bearings. Deep Groove Ball Bearings will be manufactured at this site to cater to the demands of the automotive and manufacturing sector.
Speaking on the occasion Rakesh Makhija, Managing Director, SKF India Ltd. stated, "The last few months have been challenging for the economy. As a company we continue to be very positive on the Indian market. This expansion is yet one more step towards demonstrating SKFs commitment to being a market leader."
He added, "Uttarakhand is an emerging industrial hub in the country. SKFs strategic move to increase production capacity through the Haridwar plant signifies our commitment to serve our customers effectively & will allow SKF to further increase its share in the developing 2 wheeler and automotive market."
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