Your location:  Home  >  Bearing News  >  
<<  Back

FAG Bearings India reports strong results for 2002

Resource from:  From eBearing.com Likes:3060
Apr 29,2003
FAG Bearings India Ltd. (a subsidiary of INA/FAG, Germany) reported 2002 sales and profits both improved over 2001, despite challenging economic conditions in India and export markets. Sales in 2002 hit Rs 2.47 billion (USD $52.1 million), up 9.3% from Rs 2.26 billion ($47.7 million) for 2001. Profits rose more than 32%, to Rs 198 million ($4.2 million) in 2002, from Rs 150 million ($3.2 million) the year earlier. 2002 represents the first full year in which FAG India has offered tapered roller bearings along with its line of ball bearings. On those results FAG India declared an unprecedented 40% cash dividend, which the company says is the highest ever payout by any Indian bearing company. Managing Director Damaraju Jagannath said, "Despite weak export markets, we have been able to improve our sales and profitability substantially due to the company's strong focus on technology and product development." He went on to say, "We have ensured that our product market portfolio is well balanced, thus providing long-term security to the company's business against fluctuations in market conditions." Late in 2002, Indian securities authorities ruled INA must acquire FAG Bearings India as part of its acquisition of FAG Germany.
(From eBearing.com)
【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
Previous  Schaffler develops energy-efficient bearings

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.