Hoping to complete the merger of its group companies by end of the year, Schaeffler India is planning to infuse about 40 million euro for expansion in 2018.
The rolling bearings and linear products maker’s Managing Director Dharmesh Arora was quoted as saying by PTI that the company has planned a capex of 40 million euro each for expansion in India in 2018 and 2019.
At present, the group runs three companies in the country — Schaeffler India Ltd, INA India and Luk India. Arora said further: “INA India and Luk India will merge with Schaeffler India and the process is expected to be completed by 2018.”
He added that the facilities of INA in Pune and the Schaeffler India plant (FAG) in Gujarat will be expanded. He also expected robust growth from both the automotive and industrial sectors in the next few years.
Image Credit : stz.india.com