ZWZ Bearings Plans Rs. 450cr Indian Unit

Resource from: CBCC Likes:2989

Dec 27,2010

The world' largest bearings maker, ZWZ Bearings of China, in a recent development has created an Indian subsidiary, which has been named as ZWZ Bearings India. The company is setting up this facility in the next couple of years at an investment of Rs. 450cr. In this connection it has also initiated the process of identifying site for the plant and currently preparing a feasibility report for the purpose. The Director and Indian partner of the company, Nishant Vora said that the physical presence of the company in India will help it to cater customized market requirement at a faster pace as it has already been established as the recognized bearings maker recording exports worth Rs. 50cr in the last fiscal and is expecting a sales of Rs. 500cr in the next three years. The current Rs. 9025cr ($2 bn) bearings market in India is dominated by 12 players contributing about 55 per cent of the total turnover. The company has decided to set up marketing office across Chennai, Delhi, Kolkata, Ahmedabad and Mumbai and will launch about 5,000 types of industrial bearings and gradually increase the number to 15,000 bearings at a later stage. It also plans to supply the middle, large and extra large bearings of up to 6 metres in diameter. The company is currently a well settled bearings player in China and aspires to repeat the same in India as it focus would be to supply not only cost effective product but also high quality, high precision with better delivery and compelling value mechanism across the Indian bearings market.

(CBCC)

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