Schaeffler To Invest Rs.1,000 Crores in India

Published: Wednesday, January 11, 2012, 11:18 [IST]

Schaeffler, the German auto component maker has announced that it will be investing 150 million Euros in India in the next three years. The investment will amount to more than Rs.1,000 crores according to current exchange rates. The company has said this investment will be used to set up a manufacturing facility.

Schaeffler already has three plants in India and is planning to increase the head count of its engineers here. Schaeffler Automotive President (Asia-Pacific) Matthias Zink while speaking to reporters here in Delhi said: “We plan to invest around 150 million euro in the next three years for expanding our existing plants at Pune, Hosur and Vadodara, besides constructing an additional facility at Savli (Gujarat)."

The company will spread its investment across three locations – Vadodara in Gujarat, Pune in Maharastra and Hosur in Tamil Nadu. It will also recruit more than 1,200 workers in the next three to four years.

Schaeffler sells its products under three brands -- Luk, INA, FAG -- in the country. Its product portfolio consists of various components, including ball bearings and engine components. These components are sold to major carmakers including Maruti Suzuki, Hyundai and Mahindra.

Article Published On: Tuesday, January 10, 2012, 15:37 [IST]

Read more on: #investment #delhi auto expo

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