The Hindu Business Line : Timken launches bearings range for textiles industry

Timken India Ltd, a major player in the bearings market, has decided to take on rivals like SKF by launching the bearings range required by the textile industry in Coimbatore before introducing the products nationwide.

The company expects to record a turnover of about $90 million (around Rs 370 crore as against Rs 331 crore in 2006) during the current calendar year, according to Mr David White, Director-Sales & Marketing, TIL, Bangalore.

In the past three years, the company was growing by about 27 per cent year-on-year.

He expects the first phase of the manufacturing facility being established by the Timken group to begin commercial production by the year-end. Mr White told Business Line that TIL was already supplying bearings to its customers in t he Coimbatore region mainly in the general engineering industry such as pumps and compressors and machine tool industry.

The business of Timken in the textile industry is very, very small, “practically miniscule” in the Coimbatore-Tirupur-Dindigul textile belt and for the company, this is a “new entry”.

The existing business in the Coimbatore region is around $1 million.

He said the growth would come from the textile and engineering sectors. In the remaining months of the current financial year, he expects the company to earn about Rs 2 crore from the sale of its products to the textile sector and it would grow to about Rs 10 crore in the next year.

He said the Timken group is establishing Timken India Manufacturing Private Ltd in Maraimalai Nagar near Chennai at an investment of $27 million in the first phase.

The Maraimalai Nagar factory is expected to be commissioned later this year and once the operations stabilise there, the group would look at the question of further investments there which might come in about two years. The Chennai unit would produce tapers of up to 12 inch outside dia.

Mr White said the company is not looking at delisting its shares from the stock market (nearly 80 per cent of TIL’s equity capital of about Rs 64 crore is with the management).

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