Japan's NTN Corp to Build Bearing Factory in India

Resource from: NTN Likes:2938

Nov 02,2010

(OSAKA, Nov 02, 2010 ) Japan's NTN Corp. (TSE:6472) has decided to build its second Indian factory on the outskirts of the southern city of Chennai to supply autoparts to local factories of Toyota Motor Corp. (TSE:7203), Renault SA and other automakers. Construction is scheduled to start as early as March. The initial investment is estimated at 300 million yen (US$3.7 million). The new facility is slated to begin mass production of constant-velocity joints and axle bearings in April 2012. NTN's existing Indian factory is located in the northern state of Haryana . With the addition of the second factory, the major bearing maker aims to lift its sales in India fivefold to around 20 billion yen by fiscal 2015, up from an estimated 4 billion yen in fiscal 2009. Nissan Motor Co. (TSE:7201) and Hyundai Motor Co. (KSE:005380) also have factories in southern India.

(NTN)

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