Schaeffler to expand in India, lines up 40 million euro capex

Rolling bearings and linear products maker Schaeffler India will infuse about 40 million euro for expansion in 2018 and hopes to complete the merger of its group companies by end of the year.

Schaeffler has planned a capex of 40 million euro each for expansion in India in 2018 and 2019, Managing Director Dharmesh Arora told PTI. The company follows the calendar year for accounting.

The group has three companies in the country -- Schaeffler India Ltd, INA India and Luk India.

In the first quarter of calendar year 2018, the company's India revenues grew 17 per cent year-on-year, while in Q2, the topline rose by 14 per cent.

Following the merger, Schaeffler India will be able to expand its product portfolio to include needle roller bearings, linear roller bearings and precision spindle bearings, he said.

It would also enable the company to cater to the full range of solutions in engine, transmission and chassis, Arora added.