STRONG BEARINGS
Article Abstract:
Tata Timken Ltd (TTL), India's second largest producer of ball bearings, will soon become a subsidiary of Timken of the US. Timken has got permission to buy out Tata's stake in the company and increase its holding to 80 percent. Tisco is divesting its holding in TTL at a price of Rs55 per share. TTL markets and services Timken's products in Sri Lanka, Nepal, Bhutan and Bangladesh. The company has a capacity to produce 2 million standard tapered roller bearings and assemble 0.1 million sets of AP cartridge tapered roller bearings. Becoming a subsidiary of Timken will enable TTL to avail of more products from its parent which will contribute to its growth and competitiveness in the international and domestic markets. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BLEAK ROAD AHEAD FOR SKF BEARINGS
Article Abstract:
SKF Bearings saw its sales of bearings fall by 6 percent in 1997- 98 while its net profit fell by 80 percent to Rs6 crore from Rs29 crore in 1996-97. The company sold about 52 percent of its production to original equipment manufacturers and 38 percent to the replacement segment while 10 percent was exported. The company has been adversely affected by overcapacity and competition from cheap imports. The company has entered into an agreement with Telco to supply hub bearings for its small car. (khr)
Comment:
Reports that sales of bearings falls by 6% in 1997-98, while net profit drops by 80% to Rs6 crore from Rs29 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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