NSK Brazil Continues Strong Growth
Resource from: CBCC Likes:2933
Feb 05,2006
NSK Brasil Ltd. (a subsidiary of NSK Ltd., Japan) said its aftermarket replacement bearing sales grew by more than 20% in 2005.
Most of the replacement bearing sales are in industrial markets, particularly Brazil's strong mining, ore production, chemical and petroleum sectors.
Although automotive and rail are important markets in Brazil, they do not offer the growth potential that the industrial customer base does. Aftermarket manager, Oswaldo Almeida, said: "We want to maintain our strong presence in the mining and steelmaking sectors."
Another key customer base being added to NSK Brazil's target markets is the pulp and paper industry. Last year, NSK joined the Brazilian Pulp and Paper Technical Association (ABTCP) to, "aggressively develop its brand in a bid to gain access to its greatest target: the paper industry." The company was apparently successful; a recent survey conducted by a Brazilian industrial machinery newsletter found NSK is now the country's second most well-known bearing brand.
NSK has a long history in Brazil. Although it now has 36 manufacturing operations in 24 countries, in 1972, NSK chose Sao Paulo, Brazil for its first manufacturing facility outside Japan. Brazil has continued to be a favorite market for the company, in an economy it describes as, "buoyant" bringing, "robust demand."
Global aftermarket demand, according to NSK, is estimated at ¥640 billion, with a 2% annual growth rate. In mid-2004, NSK set up a separate division to manage worldwide aftermarket sales.
Going forward, NSK said it expects sales for Brazil's aftermarket unit to continue strong, with growth forecast at more than 10% in 2006.
Aftermarket sales are key across the entire region, as the Americas represent half of NSK's replacement bearing sales worldwide.
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