The Hindu : Business : SKF likely to invest Rs. 200 crore

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Saturday, Feb 03, 2007
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Business

Business

SKF likely to invest Rs. 200 crore

Special Correspondent

To double sales revenue by 2010; has 30 p.c. share in automotive bearings

CHENNAI: SKF India, a well-known player in the field of bearings and seals, has drawn up a plan to double its sales revenue by 2010.

The company reported sales revenue of Rs. 980 crore in 2005 and expected to end 2006 with a revenue of Rs. 1,250-1,300 crore.

Addressing a press conference on board the re-invented 18th century Gotheborg ship here on Friday, which is now anchored at the Chennai Port, Rakesh Makhija, Managing Director of SKF India, said the desire to double the turnover would come from significant investment. Though unwilling to discuss the specifics at the moment, he said the capital expenditure of the company was about Rs. 100 crore over an 18-month cycle. "This will go up significantly," he said. He indicated a minimum investment of Rs. 200 crore.

SKF, he said, was currently celebrating its centenary. It had presence in seals, lubrication, asset management and linear motion products.

To a question on moving overseas plants into India, he said some channel equipment had indeed been shifted to India. SKF bearings had a 30 per cent share in the Rs. 3,500 crore Indian automotive sector.

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