Schaeffler to invest Rs 300 cr for transmission components facility in TN

  • Industry News
  • Nov 29,21
New facility will expand the production footprint in Hosur for transmission components and systems
Schaeffler to invest Rs 300 cr for transmission components facility in TN

Chennai

Leading industrial and automotive supplier, Schaeffler India Limited has signed a Memorandum of Understanding (MoU) with Guidance, the nodal agency for the Government of Tamil Nadu, for investing over Rs 300 crore in next four years to set-up a new greenfield manufacturing facility in Hosur, Tamil Nadu, for manufacturing of transmission components and systems for automotive and tractor segments. The proposal will engender tangible economic and social benefits to state while generating direct employment for more than 300 individuals. 

Commenting on the development, Harsha Kadam, MD & CEO, Schaeffler India, said: “We have a long standing and productive relationship with Tamil Nadu Govt as we are already operating in Hosur for many years now. I am delighted to deepen our relationship today with this MoU. This expansion is in line with our strategic growth plans for India as we continue to localize and sustainably expand our footprint. We are certain that this agreement will further strengthen the relationship and take it to the next level. “

Further, according to MoU, the state government will facilitate and help Schaeffler India to get the necessary infrastructural & regulatory support on best-effort basis including the Single Window facilitation as per Tamil Nadu Business Facilitation Act 2018.

The Germany-based Schaeffler has been present in India for over 50 years. With 3 well known product brands (LuK, INA and FAG), four manufacturing plants and 8 sales offices, Schaeffler has a significant presence in India. Schaeffler is among the largest industrial and automotive supplier with sales of Rs 37.6 billion in 2020 and 2794 employees. The manufacturing plants in Maneja and Savli (Vadodara), produce a vast range of ball bearings, cylindrical roller bearings, spherical roller bearings and wheel bearings that are sold under the brand name of FAG. The plant at Talegaon near Pune, manufactures engine and powertrain components for front accessory drive system, chain drive systems, valve train, gear shift systems and a range of needle roller bearings and elements, under the brand INA. The fourth manufacturing location is based out of Hosur, producing a wide range of clutches and hydraulic clutch release systems for passenger cars, light commercial vehicles, heavy commercial vehicles, and tractors sold under the brand of LuK. Schaeffler also has the largest after-market networks serving the industrial and automotive customers. 

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