Since inception in 1961, TEXSPIN has been very closely associated with customers in the Indian automotive industry, providing innovative solutions to meet their requirement of bearings and associated sub-assemblies. TEXSPIN has always believed in providing solutions to the customers, and therefore customized service and technological product solutions have helped it to carve out a niche for itself in the market place. It offers innovative and customized solutions for clutch systems (release bearings & clutches), suspension system, steering system, transmission, wheel end, differential and transaxle technologies to the automotive industry.
“We would continue to focus on our core strengths – technology and innovation leadership – and reinforce it further to meet the new emerging challenges and exceed the expectations of the industry. We have been able to maintain our healthy growth trajectory and carve out a niche for ourselves in this competitive scenario. In the coming years we have planned and deployed our strategies to continue our healthy growth rate by focusing on product technology upgradation, new products introduction and increase in our share in new markets and product segments which we have entered in the last couple of years. For instance, industrial clutch assemblies, unitized taper roller bearings, etc. To meet our growth aspiration we have already commissioned a new plant this year which is ramping up well and would play a pivotal role in achieving our growth targets”, says Mr. Dipen Makwana, Director, TEXSPIN Bearings Ltd.
As regards adoption and introduction of new technologies TEXSPIN is working on new projects and interesting technology areas which, the company is confident, would bear fruits in the next couple of years and contribute to its growth strategy. Texspin has recently won the supplier performance award in the category ‘New Technology Development’ from its esteemed customer Sona Koyo Steering Systems Ltd. for 2015-16.
Roadmap for 2020
The Government’s ‘Make in India’ campaign augurs well for the industry, and with the focus shifting to the infrastructure, railways and defence these segments, it would play an important role in driving growth not only for the country but for the industry as well. The automotive industry is also poised for a healthy turnaround as the economic growth picks up momentum and the per capita vehicle ownership starts improving in line with the advanced economy.
“We have a two-pronged strategy and road map in place to leverage growth in both the areas. However we would continue focusing on our core automotive market which would be a major driver of growth. As indicated earlier, during the lean period in the last couple of years we have invested on a new plant which is now fully ready to meet the increased requirement from the market. Going ahead, as the growth picks up we are confident that the capacity of the new plant will be fully loaded, and we hope to be in the drawing board sooner than later for setting up our third manufacturing facility”, he adds.
Of late, Mr. Makwana says, TEXSPIN has been working on differentiated service delivery to its customers due to the fluctuating demand in the automotive industry. This has thrown up new challenges of an adaptive manufacturing system and a fully integrated response from the entire supply and value chain in quickly adjusting to such demands with a cent per cent customer-centric approach. The 100 per cent customer-centric approach across functions and the layers of the organisation would be another key focus for TEXSPIN going ahead. Driving growth with a focus on core values and the society it serves to meet and exceed the expectations of all stake holders would be the other important area the company would continuously focus and would be a key deliverable going ahead.