The Hindu Business Line : Timken India to ramp up export, domestic markets

Maintaining a steady growth of 50 per cent in its exports in the last three years, the bearings company hopes to double its outsourcing from India in the next three years. Timken currently has a business worth $50 million out of India, which consists of both domestic and exports.

Despite a strong domestic market propelled by the phenomenal growth of the automotive industry in the country, Timken could muster only a 9-per cent growth in domestic sales in 2003. However, the export sales, at 43 per cent, is set to grow faster.

Briefing reporters here recently, Mr Gordon W. Robinson, who assumed charge as the CEO of the company, said India could emerge as a high quality export hub for the company.

With a double digit growth over the last two years, Timken India sees a potential for increasing the plant capacity for bearings, said Mr Robinson, adding that a robust economic growth has opened up opportunities for Timken. It needs to make significant investments during the current year.

Timken is keen to enter the two-wheeler segment to sell its bearings and is studying the feasibility for product development through its engineering centre, which was opened in April. The technology centre will play a key role for the company's global needs, as India, with its low cost production supported by quality manpower, will be an important hub for outsourcing.

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