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Keen to grow organically in Asia

MR WARD J. TIMKEN JR, Chairman, Timken Corporation. — G.R.N. Somashekar

Bangalore , Sept. 18

Timken Corporation was open to acquisitions in India but would prefer to develop its business on its own. However, it was not averse to sourcing opportunities that would fit its processes and systems well.

The friction management major, which had made acquisitions a few companies globally in the last five years, was more keen to grow organically in Asia.

"We are not averse to acquisition, but we tend to develop on our own", said Mr Ward Jr (Tim) Timken, Chairman of Timken Corporation.

Expansion plans

He said India was a very important investment destination.Timken India was planning to expand its line of products from specialised commercial vehicles to two-wheelers and extending the bearing refurbishing services, started recently for railways, to more sectors, he added.

Eyeing Bangalore

Timken India would be looking at expansion at its Bangalore Centre, which houses its global engineering and research facility, he told Business Line.

Mr Timken Jr, who visited Mumbai, Pune and Chennai, had meetings with corporate leaders, including Mr Ratan Tata of the Tata Group, and Mr Baba Kalyani of Bharat Forge.

Mr Gordon, Robinson, Managing Director of Timken India Ltd (TIL), said bearings refurbishing market in India was estimated at $90 million.

He said the company was looking at opportunities in helicopters while the Defence aviation was a new area that could be tapped.

TIL has its manufacturing facility in Jamshedpur principally producing tapered roller bearings, catering to the heavy automobile sector and rail segments. Jamshedpur also had an in-house facility for refurbishing large industrial and rail bearings.

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