Timken India Ltd., a subsidiary of Timken Company, the worldwide manufacturer of bearings and related components, is expanding its capacities to meet the growing demand for its products both in the domestic and export markets. In spite of the slowdown in the Indian automotive industry over the last many months, Timken has kept up its good showing in FY13, as it continued to grow both in terms of volume and financial resources.
Says Mr. James R. Menning, Chairman, Timken India Ltd.: “We are today a fundamentally different company than we were 10 years ago. During the past decade we built a brand new company on the foundation of a 100-year-old Timken business. The Indian economy is continuously moving forward but at a slow pace. Despite this tough economic environment Timken India continues to maintain a healthy profit margin. This year our company reported total revenue of Rs. 6,940 million which is two per cent more than last year. The increase in revenue from operations can be attributed to four per cent annual increase in sales, of which export sales grew by eight per cent and domestic sales grew by two per cent.”
Timken India manufacturers tapered roller bearings and certain components of tapered roller bearings which primarily go into medium and heavy trucks, off-highway equipment and railways, in addition to some of its parent company’s global requirements. The company also meets the demand for other types of bearings like large size tapered roller bearings, spherical roller bearings, cylindrical roller bearings and specialty ball bearings by sourcing from other Timken Company plants across the globe.
Expansion plans
Timken India has moved into new product categories, new markets and new geographies. As part of its expansion plan, the company is in the process of establishing an industrial service plant, its new gear and services facility, in Raipur, Chattisgarh in collaboration with Philadelphia Gear, at an estimated investment of around Rs. 27.50 crores.
The facility is located in a hub of the metal, cement, coal-fired power generation, mining Industries and will support the growing aftermarket penetration in these target industries. The proposed Raipur service plant will be the first such Timken plant outside the US that expands the service capabilities to new growing markets offering gear service capabilities. The project is expected to be commissioned by the end of this year.
Considering the increased demand for rollers in the Asia region, Timken India has embarked upon another expansion plan, this time for the manufacture of rollers beyond its current capacity. The additional capacity will not only help the company meet domestic demand but also increase its export turnover. This will also reduce the company’s dependency on imported rollers resulting in reduction of lead time and shipping and duty costs. This project, being established at a cost of nearly Rs. 16.50 crores, is expected to be commissioned by the end of the third quarter of FY14.
As a global industrial technology leader, Timken’s technicians have a deep knowledge of metallurgy, friction management and power transmission to improve the reliability and efficiency of machinery all around the world. The company serves diverse market segments, including aerospace, automotive, construction, consumer, defence, energy, industrial equipment, health, heavy industry, machine tool, positioning control, power generation and rail.
“Counterfeit products pose a definite threat to the industry. Low quality duplicate bearings not only lead to crucial downtime for customers but also tarnish the quality and brand value of superior manufacturers. Efforts have to be made by manufacturers to educate customers on the importance of using genuine high quality bearings”, suggests Mr. Menning.