China's top bearing maker taps Indian market

22:06, December 16, 2010      

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Chinese largest bearing manufacturer Wafangdian Bearing Group (ZWZ) Thursday announced in Mumbai the establishment of its Indian arm ZWZ Bearings India Pvt. Ltd. in a bid to expand business operations.

ZWZ Bearings India will launch complete range of products for Indian customers with the aim of becoming a prominent supplier of bearings for major industries like steel and metal, power, mining, paper, cement, machinery, railway, petroleum, engineering, construction and infrastructure, said ZWZ.

ZWZ will provide high-quality and precision bearings to both actual users and Original Equipment Manufacturers.

Zhao Yang, vice general manager with ZWZ, said, ZWZ will focus on medium and large-sized bearings with diameter up six meters.

Initially, ZWZ Bearings India will supply around 5,000 types of industrial bearings and gradually extend the portfolio to 15,000 products.

ZWZ plans to attain one billion rupees of yearly sales in the coming three years and expects to reach five billion rupees in the long run.

ZWZ Bearings India currently will focus on sales and marketing of industrial bearings and plans to set up a full-fledged manufacturing base in India in the coming two or three years upon the completion of relevant feasibility studies, said a press release.

ZWZ Bearings India could act as a platform to export bearings to other countries in South and Southeast Asia, said B. L. Dar, vice president with ZWZ Bearings India, who charges the business development and marketing operations.

Now, India imported around 50 percent of bearings and has a highly fragmented market, with market size of 2 billion U.S. dollars and annual growth of 15 percent.

ZWZ has exported bearings to India as early as 1995 and has 40 to 50 dealers in India with annual sales of about 10 million U.S. dollars this year, said sources with ZWZ.

Founded in 1938, ZWZ ranks 7th in the world and has 22 manufacturing plants in China with products exported to more than 80 countries in the world.

Earlier, this year, ZWZ has set up a similar entity in Cologne of Germany as part of its strategy to expand international businesses.

Source: Xinhua
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