AHMEDABAD: Harsha Engineers, the Rs 213-crore bearings manufacturer, is setting up a factory in China at an investment of Rs 70 crore. New, efficient machines will be imported from the US and Europe to ensure conformation to global quality standards. The cage bearing manufacturing plant will be set up in phases over a two-year period, accommodated in a total area of 25,000 sq meters. Company CMD Raju Shah said that the Rs 70 crore greenfield unit will have a capacity to produce 2.5 million units of bearings every month.
Harsha Engineers is looking at raising funds through a public issue or private equity. Harish Rangwala, Director of Harsha Engineers, said that they were in the process of looking at possible financial solutions for the foray. Mr Shah said that he hopes Harsha Engineers would become a Rs 400-crore company in two years time.
Harsha Engineers supplies nearly 65% of its total production to exports market. Though the company already has orders from Timken, SKF and FAG, among others, it wants to be close to the customer base. Mr Shah said that most global players still preferred bulk-buying in China and they don’t want to lose out on the opportunity.
This move will enable the company to reduce costs and to cater to global automobile players, who currently source large volumes from China. China, where manufacturers enjoy the advantage of low-cost technology and lower labour wages, caters to nearly 60% of the world’s bearing production.
Harsha Engineers manufactures cage bearings at two units near Ahmedabad. The company is planning to set up a Rs 15 crore unit near Vadodara, from a where major production will be supplied to Timken. The plant will be set up with technical collaboration with a Sweden-based company. It is expected to commence operations next year.
Harsha Engineers is a global solution provider of Bearing Cages as well as special purpose Stamped Components. It is a preferred supplier of different types of Roller and Ball Bearing Cages and cages for Bearing with special applications. Since 1972, Harsha has been a growing organization with significant international presence with global clients such as Timken, SKF, FAG, NSK, China, NRB, ABC, NEI, HMT, Koyo and 23 other bearing companies in the world. The company is in the process of talking to a few Japanese companies in order to increase exports.
Harsha invests in equipment such as power presses from AIDA, Minster, Schuler etc. and CNC machines from Deckel Maho, Sodick, Mitutoyo, Browne & Sharpe etc to get consistent output. The company has developed in-house capability to manufacture special purpose machines and appropriate automation technology. |
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