EBC to set up modern plant in AP capital
Hyderabad, Jul 3 (UNI) The European Bearing Corporation (EBC), one of the world's leading bearing companies, will set up a Rs 124 crore state-of-the-art high precision plant here to manufacture large-size bearings .
EBC India Managing Director Martin Kunzmann told the media today the Hyderabad unit would manufacture 400 to 700 mm bearings with special emphasis on core sector industries like Railways, Steel, Mining, Cement and Power Transmission among others.
The plant will have a dedicated area for vendors to set up facilities under strict supervision and compliance norms of the main plant.
He said the investment, envisaged till the end of 2008, would be done in instalments and production was expected to commence by the end of first quarter of 2007.
The total bearing maket in India was estimated at Rs 3,500 crore in 2004-05 with an annual growth rate of eight to ten per cent.
Mr Kunzmann said EBC India will intially manufacture import substitutes catering to heavy industries. He sounded confident of beating the industry growth rate and capturing a 13 per cent market share by the end of 2009.
The company expected to generate direct and indirect employment for about 1,500 people by the end of 2010.
UNI BR GM 1718