Schaeffler Group to expand operations in Asia
THE Schaeffler Group, specialists in precision rolling bearings and automotive engine components, have announced plans to invest more than €300 million over the next two years in expanding their manufacturing and research and development operations in Asia.
Part of the investment will be used to develop and improve the Group’s existing 11 manufacturing sites across China, India, Korea and Vietnam.
Schaeffler also plan to build two new manufacturing plants in China, where the company’s existing plants are now operating at full capacity due to above-average sales growth. These two new sites will produce rolling bearings and engine/transmission components.
A new manufacturing plant will also be built in India, and research and development capacities in both Japan and India will be expanded.
Construction of the new factories is to be completed by 2012.
Emphasizing the importance of the investment programme, Dr Juergen M. Geissinger, president and chief executive officer of The Schaeffler Group, said: ‘Asia remains one of the regions in the world with the highest increases in growth and sales for us in the long term. The growth rates across all industrial segments have been enormous during the last few years.
‘By expanding our existing manufacturing locations and constructing three new factories, we are strengthening our profile and presence in Asia. Customer proximity as well as developing and manufacturing our high-precision products…are important factors for systematically utilizing the opportunities for growth in this region.’
Part of the investment will be used to develop and improve the Group’s existing 11 manufacturing sites across China, India, Korea and Vietnam.
Schaeffler also plan to build two new manufacturing plants in China, where the company’s existing plants are now operating at full capacity due to above-average sales growth. These two new sites will produce rolling bearings and engine/transmission components.
A new manufacturing plant will also be built in India, and research and development capacities in both Japan and India will be expanded.
Construction of the new factories is to be completed by 2012.
Emphasizing the importance of the investment programme, Dr Juergen M. Geissinger, president and chief executive officer of The Schaeffler Group, said: ‘Asia remains one of the regions in the world with the highest increases in growth and sales for us in the long term. The growth rates across all industrial segments have been enormous during the last few years.
‘By expanding our existing manufacturing locations and constructing three new factories, we are strengthening our profile and presence in Asia. Customer proximity as well as developing and manufacturing our high-precision products…are important factors for systematically utilizing the opportunities for growth in this region.’
