The Hindu Business Line : Timken sees huge potential for bearings in Asia

Mr W.R. Timken Jr (left), Chairman, Board Director, Timken, and Mr Gordon Robinson, Managing Director, Timken in India, at a press conference in Bangalore on Friday. - G.R.N. Somashekar

Bangalore , Feb. 25

INDIA, with its huge potential, could spur the anti-friction bearing giant Timken to look for acquisition to increase its market share in the country.

However, the company would weigh the option only after analysing critical parameters — cost optimisation, finding the right technology and market potential. Addressing a press conference here on Friday, Mr W.R. Timken Jr., Chairman of Timken, said there was no immediate plan for acquisition.

Asia would become a major consumer of bearings as the region was witnessing rapid growth. This could spur demand, which may reach $5 billion as against a mere $200 million now. India and China could emerge as the major consumers.

Timken India, the subsidiary which provides a key engineer and research support to Timken's global business, hopes to increase its contribution to the growth of the bearings industry from the current 3-4 per cent to 10 per cent. The subsidiary, with it manufacturing facility at Jamshedpur, has a sales turnover of $50 million, which also includes 40 per cent exports. Besides this, Timken's engineering and research centre in Bangalore would play a key role in processes and product development efforts.While stating that Asia could become the hub for research and production of bearings, Mr Timken however, regretted that poor infrastructure in transport and communication linkages for efficient logistics management could affect the pace of growth.

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