Galaxy Bearings Building New Plant

Resource from: CBCC Likes:2948

Mar 28,2007

Galaxy Bearings Building New Plant Galaxy Bearings Ltd. announced it will spend approximately Rs 500 million (USD $11.6 million) to build a new bearing manufacturing plant in India or one of the ten ASEAN (Association of South East Asian Nations) region nations. ASEAN member states are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. ASEAN Plus Three includes China, Japan and South Korea. Founded in 2002, Galaxy Bearings is a division of India's Galaxy Group, a diversified industrial products company founded in 2000. The company is also a vocal supporter of the Bearing Industry Code of Conduct. It manufactures bearings under the Sun brand -- primarily roller bearings but also various types of ball bearings. Varieties of roller bearings include tapered, cylindrical, plain thrust, needle and spherical. Approximately half of Galaxy's output is sold to the Indian OEM and aftermarket, and half is exported, primarily to ASEAN countries. Galaxy claims installed capacity of more than one million bearings per year; the new facility will have capacity to produce more than 10 million bearing per year.

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