Date: 2013-08-01

SKF to Invest Rs 150 cr in Haridwar Unit

Indian arm of Swedish automotive component maker SKF is investing Rs 150 crore in a new ball bearings manufacturing plant at Haridwar, a senior executive of the company said. Mumbai-based SKF India, 51% owned by SKF, had put the investment on hold for the past two years due to slowing demand.

But the recent spurt in automotive sales has made the company go ahead with the investment. The Rs 1,620-crore public-listed firm is the largest domestic maker of automotive bearings and seals for aerospace, automotive & industrial sectors. SKF India MD Rakesh Makhija said,

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