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Schaeffler To Invest A Thousand Crore Rupees In India

 

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Schaeffler Group is the prominent investor in auto and industrial units supply. It has recently announced a jaw-dropping investment of Rs. 750 to 1000 crore in the next five years for the manufacturing of structural inputs of automobiles. It is due to the growing requirement for renewable resources and the abrupt switch from BV IV to BS VI emission norms by 2020, which would require a heavy change in the design and development of the inputs. 

 
The investment shall aim at setting up of new plants apart from the Talegaon and Salvi plants and an additional employment of around 250 people. The company also said that they have a great business in the field of wind energy. They supply as huge as 800 bearings to the windmill owners. With the growing need for a cleaner fuel, Schaeffler Group might gain the advantage. Their major products find space in the vehicles' powertrain.
 
The company generates a lump sum revenue of Rs. 3500 crore annually, out of which it invested about 4.8 % into fresh capital expenditure the last year and about 8% the last to last year. 
 

The Group delivers high-precision components to produce engine, transmission and chassis applications. Its running motto is “Mobility for tomorrow” for which it keeps itself technologically updated and provides the basic raw materials in best of their quality globally. It generated sales of approximately EUR 13.3 billion in 2016. With around 86,600 employees, Schaeffler is one of the world’s largest family companies and, with approximately 170 locations in over 50 countries, has a worldwide network of manufacturing locations, research and development facilities, and sales companies.