India's NEI plans to enter wind mill bearings market - report

(SeeNews) – Dec 12, 2011 – India's ball bearing manufacturer National Engineering Industries (NEI) is planning to enter the market for large size wind mill bearings, as the company seeks to take advantage of the push of many businesses into wind power, the Economic Times said today.
NEI's chief executive Rohit Saboo told the newspaper that the company had set aside INR 500 million (USD 9.53m/EUR 7.14m) for establishing an assembly line for the bearings production. He suggested the initial annual production would be around 5,000 bearings, given that each wind turbine needs four to five bearings.
On top of that investment, NEI aims to pump up to INR 11 billion in coming five years to increase twofold its production capacity, including the opening of a plant and making acquisitions abroad.
NEI, which makes bearings for a variety of industries, but mainly in the automobile sector, is part of India's Birla Group of Companies.
(INR 1.0 = USD 1.906/EUR 1.429)

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