Financial Daily from THE HINDU group of publications
Tuesday, Jun 04, 2002
Financial Daily from THE HINDU group of publications Tuesday, Jun 04, 2002 |
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Corporate
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Announcements ZKL Bearings begins marketing operations Our Bureau
KOLKATA, June 3 CZECH bearings major ZKL Bearings CZ Ltd has launched its marketing initiatives in India. The $40-million turnover company hopes to generate a revenue of $5 million from the sale of bearings in India within the next three years. Speaking to newspersons at a press conference held here, Mr Vladimir Hradek, Director of ZKL Bearings, said the company would market its range of bearings in India through a principal distributor. Talks have also been held with various end-user companies for supply of products for the latter's bearing applications. These include steel, cement and sugar companies. The Indian market for bearings is stated to be valued at Rs 2,200 crore. Of this, domestic production accounts for Rs 1,200 crore while the balance is imported from different countries. While more than 25,000 types of bearings are used in India for different applications, only about 1,000 types of bearings - mainly those having high-volume sales and finding applications in pumps and automobile units - are manufactured in the country. Most of the low-volume sales, imported bearings are meant for industrial applications. According to Mr Hradek, the ZKL bearings line is equipped to design and manufacture over 3,600 types of bearings - covering bore-diameters from 3 mm to 850 mm - for applications in every industry. "We learnt that several duplicate products were being sold here as ZKL Bearings. We decided that it would be in the fitness of things to offer genuine ZKL products in the India. Hence, we have appointed a principal distributor.''
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