Timken to expand R&D unit

The Timken Company of USA was keen on expanding its bearings and alloy steels business in China and India.

"We are trying to expand our presence in Asia, specifically in India and China," said The Timken Company managing director (Asia-Pacific) and chairman of its subsidiary Timken India Limited Gordon William Robinson.

"There is potential in India and we want to expand operations here at the plant at Jamshedpur as well as through acquisitions across India," he said. Timken held its annual general meeting here.

A rail testing facility was commissioned in July 2003 at Timken's research facility in Bangalore. It has invested around $100 million to expand the R&D center which has 300 employees.

In 2003, Timken reported growth in net sales of 19 per cent, with domestic sales rising nine per cent and exports up 43 per cent. Gross profit was up 58 per cent, profit before tax 106 per cent and earning per share (EPS) 88 per cent.

In 2003, the supply chain management function was streamlined. Inventories fell 22 per cent, receivables were down 64 per cent and customer rejections fell 52 per cent. The results of a Lean Six Sigma initiative have started showing, resulting in 15 per cent improvement in plant productivity using existing resources.

Globally, Timken recorded sales of $3.8 billion during 2003. In India, the Scorpio made by Mahindra & Mahindra (M&M) uses Timken bearings on rear wheels. Eicher's commercial vehicles and high-powered tractors from both M&M and TAFE also use Timken bearings.

Timken opened an industrial and rail bearing repair facility at Jamshedpur and launched a predictive maintenance programme called industrial machinery health management services.

It also launched value added maintenance products such as induction heaters, hydraulic pullers, industrial joints, sealants and premium mill grease.

The first ever Railway Coach Factory built and Fiat-LHB designed high speed coaches used Timken bearings, as did the Delhi Metro wagons. The company also started supplying control arms and adaptor housing to Indian Railways.