SKF India incorporated in 1961 as a subsidiary of AB SKF, Sweden - the world leader in bearings - which holds 54% stake. The company`s manufactures and markets its primary products like, ball and roller bearings, textile machinery components and manufactured components. Automobile, electrical and textile industriesare its major customers. SKF also offers integrated mechanical and engineering services, preventive and predictive maintenance. SKF manufactures 75 million ball bearings at its two plants in Pune and Bangalore. The company enjoys a marketshare of 34%. About 50% of its sales comes from the automobile sector (including OEMs and after market). Approximately 60% of its sales of bearings are from the OEM sector while the remaining 40% are after market/replacement sales. The company also exports its products to Europe and USA. The Indian operations are among the most cost effective, with a 30-35% lower cost structure, within the SKF group. SKF also has an associate company called CR Seals India, providing sealing solutions. It has signed an agreement with Telco, to supply ball bearings for its Tata Indica model. Moving on, the company hopes to tap new growth areas such as railways, wind energy plants, etc. It also plans to launch a series of new products in the Indian replacement automobile spares market due to higher margins fetched from such sales.
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