SKF India expects to double sales revenue

Chennai, Feb 2 (UNI) The Sweden-headquartered SKF India, leading manufacturer of technology and solutions provider of bearings, seals and related products, is expecting to double its sales revenue in the next three to four years.

Talking to reporters on board the replica of the 18th Century Swedish Ship 'Gotheborg' here today, SKF India Managing Director Rakesh Makhija said the company expected a revenue of Rs 1,250 to Rs 1,300 crore in the calendar year 2006, as against the turnover of Rs 980 crore in 2005.

The audited results for 2006 would be announced in the General Body meeting of the company to be held soon, he said and added "we expect a 23 to 25 per cent growth in sales turnover in 2006".

He said doubling the size of its sales revenue would mean significant investments in India, in its existing plants - two in Bangalore and one in Pune.

"The capital expenditure was about Rs 100 crore every 18 months and in the next couple of years we will be investing somewhere around Rs 300 to Rs 500 crore to achieve the target of doubling its sales revenue", he said.

UNI