Timken to build second plant in India

Timken India, a leading bearing manufacturer, is betting big on India.  Timken, which has one plant in Jamshedpur, is setting up another one in Chennai with an investment of US$25 million. The company, which derives two-thirds of its US$70 million revenues from heavy engineering (the rest is from automotive), is counting on faster growth stemming from increased investment on industrial activities and infrastructure building in the country, said Michael Connors, vice-president, industrial equipment. Timken Corp holds an 80% stake in Timken India. “We foresee infrastructure investment growing by at least 15% year-on-year for the conceivable future. It’s a market we are very excited about,” said Connors. Industries like primary metals, oil and gas, cement, power and aggregates, which are booming in the country, come under heavy engineering for the company. Everything we do in ball bearings is also done here,” said David White, director, sales and marketing, Timken India.  The center also does research in developing lubricants and sealants. It has a tie-up with Indian Oil Corp. for the latter to manufacture and market Timken automotive grease. (December 13, 2006)