Global industrial and automotive supplier Schaeffler reiterated its focus on India as a key manufacturing hub by announcing the expansion of its operations at INA Bearings in Talegaon, Pune.
The expansion will include a new manufacturing facility and a new R&D facility within the existing premises with an investment outlay of Rs 200 crore.
The new production facility will manufacture engine and transmission components, serving the domestic and exports markets. The R&D facility will focus on enhancing product development and engineering capabilities driving innovation for customers.
Schaeffler India’s INA Bearings Pvt Ltd is among the leading suppliers of engine, transmission and chassis components including needle roller bearings and has generated a growth of 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.
Speaking at the occasion, Dharmesh Arora, CEO, Schaeffler India stated, “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 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 Pvt Ltd and Luk India Pvt Ltd, with the listed entity Schaeffler India Ltd. “The combined entity would make Schaeffler India a leading automotive and industrial supplier, offering a full range of solutions in engine, transmission and chassis components for automotive applications and a wide range of ball and roller bearings, housings and services across all industrial applications,” an official statement said.