RAMAKANTH
17-11-2007, 01:39 AM
SKF AB, the world’s biggest bearing and seal maker, is aiming to expand its production capacities in India, thus hoping to increase its revenues manifold.
Tom Johnstone, CEO, SKF AB, is closely following all the action in the small car space in India and the ambitious plans of the Tatas and Renault to build cheaper cars. This is why Tom Johnstone is pumping in big money to scale up its manufacturing capabilities for automotive and industrial products.
SKF will invest Rs 420 crore in two greenfield facilities in Ahmedabad and Uttarakhand and by 2011 the company plans to double revenues to Rs 3,000 crore.
While Johnstone admits his company is facing hiccups due to shortages of raw materials and components but he is now betting on new business segments. This could open up big opportunities for SKF not just in Europe but in India as well.
Tom Johnstone knows that any slowdown in automotive and manufacturing sectors will hit SKF hard. This is the reason why he wants the new businesses to make sure that the growth momentum is not dented in the coming years.
Tom Johnstone, CEO, SKF AB, is closely following all the action in the small car space in India and the ambitious plans of the Tatas and Renault to build cheaper cars. This is why Tom Johnstone is pumping in big money to scale up its manufacturing capabilities for automotive and industrial products.
SKF will invest Rs 420 crore in two greenfield facilities in Ahmedabad and Uttarakhand and by 2011 the company plans to double revenues to Rs 3,000 crore.
While Johnstone admits his company is facing hiccups due to shortages of raw materials and components but he is now betting on new business segments. This could open up big opportunities for SKF not just in Europe but in India as well.
Tom Johnstone knows that any slowdown in automotive and manufacturing sectors will hit SKF hard. This is the reason why he wants the new businesses to make sure that the growth momentum is not dented in the coming years.