Seiko ABC to be a joint venture with the Indian automobile bearings
Seiko (NSK) and India, ABC Bearings Company (Mumbai city) set up between the two sides bearing production companies in India reached a basic agreement. The two sides will produce cars bearing the outskirts of Chennai, for the Japanese-owned manufacturers in India to foreign companies represented, as well as local automotive manufacturers to establish product supply system. ABC Company is a medium-sized bearing manufacturer in India, the main production and marketing of tapered roller bearings and cylindrical roller bearings, especially in the area of its tapered roller-bearing trucks in the local market share exceeds 50%.
NSK as early as in 1998 began to ABC to provide automotive bearing technology, through this agreement, the two sides will set up a professional production of automotive bearings joint venture. Company name NSK-ABC Bearings Ltd., A registered capital of 500 million rupees, NSK and ABC¡¯s funding ratio was 75% and 25%, factory is located in Tamil Nadu (Tamil Nadu) Bang Qinnai suburb of SIPCOT industrial park. In January 2008 began production, variety, including bearings, wheel hub automotive bearings, roller bearings and the electromagnetic clutch gearbox bearings. Initially the scale of investment of 5 billion rupees (13 billion yen) by 2010 will total about 8 billion rupees (20 billion yen).
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