Due to increasing demand for its products and services in Asia, precision rolling bearings and automotive engine components manufacturer, the Schaeffler Group is to invest more than EUR300million over the next two years in expanding its manufacturing and R&D operations in Asia.
Part of this investment will be used to develop and improve the Group's existing 11 manufacturing sites across China, India, Korea and Vietnam. Schaeffler also plans 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. In addition, research and development capacities in both Japan and India will be expanded.
Construction of the new factories is to be completed by 2012. Development facilities in India and Japan are to be created and expanded, together with the existing large development locations in China and Korea.
Dr Juergen M Geissinger, President and CEO of The Schaeffler Group, emphasises the importance of this investment programme: "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 the Asian economic region. Customer proximity as well as developing and manufacturing our high-precision products for engines and transmissions in the automotive sector and system solutions for industrial applications are important factors for systematically utilising the opportunities for growth in this region."
Wolfgang Dangel, President of The Schaeffler Group in the Asia Pacific region, adds: "The increasing demand for high-precision products that save energy and increase efficiency in vehicle construction and applications in the renewable energy sector focusing on wind power also represent important growth opportunities. The current programme of investments will increase our participation in the economic and technical progress of Asia further than ever before."
For more information on the Schaeffler Group and its products, call the UK Marketing Department on +44 (0)121 313 5870 or email .