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The eBearing News
November 23, 2006
NSK's First Indian Bearing Factory Approved
copyright © 2006 eBearing Inc.
NSK Ltd. (Japan; TSE1:
6471)
has received government approval to build the bearing manufacturing plant it had proposed
for the Chennai area, the company's first in India.
article: NSK Plans Bearing Factory in India
Approval was recently granted by the Foreign Investment Promotion Board (FIPB) to, "undertake
to set up a joint venture to manufacture HUB Unit-1, magnetic clutch bearing (MCB), and ball bearing."
NSK has already acquired a site near Chennai, covering approximately 20 acres, from State Industries
State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) in the
Oragadam industrial park there.
A number of developers are working to build the Chennai area into the
"Detroit of India." Other vehicle plants near NSK include Hyundai, Mitsubishi and Ford.
NSK did not indicate what portion of its planned production will target India's fast-growing
auto industry, but revealing plans to produce wheel bearing hub units there is an expected
part of the company's global strategy. In it's 2005 three-year plan benchmark, NSK
is, "aiming to secure a dominant position in the global bearing market, rivaled by only SKF."
Currently, NSK's manufacturing presence in India is limited to its joint venture partnership
producing electric power steering systems for auto manufacturers there.
The Chennai bearing plant's estimated completion date is sometime in mid-2007.
NSK India Ltd. is run as a subsidiary of the company's Asian satellite headquarters
in Singapore. Its two existing service locations for bearings are in Chennai and Haryana.
The total investment approved by the FIPB is Rs 412.5 million (USD $9.3 million), but NSK's filing
did not indicate if that includes the Rs 175 million ($4 million) already spent to acquire the
Oragadam park site, nor did it identify the joint venture partner.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
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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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