Timken Announced Plans for Bearing Manufacturing Facility in India
April 2, 2006—The Timken Co. announced plans to build a bearing manufacturing facility in India. The plant will be located in Chennai, in the southern state of Tami Nadu, and will produce a range of antifriction bearings for global markets.
According to Timken's press release, the facility will be built in one of India's new Special Economic Zones (SEZs), which provide a range of tax benefits, including duty-free import of equipment and materials used in the manufacture of goods destined for sale outside India. The faxility will be located in Chennai's Mahinda World City and construction is expected to begin by the end of the year.
The plant is estimated to cost $25 million. Production is expected to begin during the fourth quarter of 2007. Timken anticipates adding approximately 300 positions to the Chennai plant.
Timken's Indian operations include a bearing manufacturing plant in Jamshedput and a global innovation center in Bangalore with the capability to design, develop and test new friction management and power transmission technologies.