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The eBearing News
September 12, 2006
NRB Receives Business Turnaround Award
copyright © 2006 eBearing Inc.
NRB Bearings Ltd. (India; BSE SMALLCAP:
530367)
recently received an award for turning around its troubled Hyderabad operations.
The Federation of Andhra Pradesh Chambers of Commerce & Industry
(website)
presented NRB with the honor of "Best Turnaround / Revival of a Sick Industry - Small / Medium Scale"
for 2004-2005.
The FAPCCI was created in 1917, and now has more than 2,600 members. The organization
oversees a variety of business awards, for such things as most export growth, highest productivity gain
and other performance measures.
The turnaround award is one of the more difficult qualifications, particularly in requiring
the business be officially classified a "sick unit," under India's Sick Industrial Companies
Act of 1985. Essentially, a sick business unit is one that has racked up total losses exceeding
the value of the business, or is judged to be in nominal default on its loan obligations.
The FAPCCI turnaround award requires not only that the business division continue to operate
and be actively reversing its situation, it also requires verifiable performance in terms of
improved working capital, product quality, cost reductions, marketing strategies and
employee morale.
NRB manufactures needle bearings and cylindrical roller bearings, primarily targeting the
fast-growing automotive OEM market in India. Successes there are being leveraged into other markets.
By 2008, NRB said it intends to more than double its manufacturing capacity
for needle roller bearings, and more than triple its capacity for cylindrical roller bearings.
The company has five manufacturing facilities across India, including the one in Hyderabad.
article: NRB investing heavily in production boost
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- by Bruce A. Carr
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Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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