Schaeffler inaugurates new facility

Schaeffler inaugurated a new facility at Pune under the ‘One Schaeffler’ entity recently. Built with an investment of Rs.2,000 million, the new facility will boost local manufacturing capabilities of Schaeffler by manufacturing engine and transmission components, and supplying them to the domestic and export markets. Marking the completion of the merger proceedings of INA Bearings India and LuK India with Schaeffler India, the new facility will have Schaeffler, along with the existing facilities, offer a full range of mobility solutions in the area of engines, transmissions and chassis components. The development will also enable the tier supplier to offer a wide range of ball and roller bearings, housings and services across mobility and industrial applications. Clocking a revenue of Rs.11.915 million from operations (net) for the third quarter that ended on September 30, 2018, that marked a rise by 18.7 per cent when compared to the revenue of Rs.1,782 million in the corresponding period last fiscal, Schaeffler is looking at capitalising significant growth opportunities India would present.