US auto and industrial component major Timken Company on Thursday said it was looking at setting up a manufacturing facility in India for needle roller bearings to tap the growing domestic market.
The company, a big player in tapered bearings, alloy steels and related products, said the investments could be around $25-50 million.
"We are currently talking to bike majors Hero Honda, Suzuki and LML as well as carmakers Maruti [Get Quote] and Tata Motors [Get Quote] for this. A final decision would be taken once we reach critical mass," Timken India [Get Quote] managing director Gordon Robinson told PTI at the auto expo in New Delhi.
Robinson said the company is targeting revenues of around $55 million from Indian operations this year. Indian operations are likely to grow at over 20 per cent in 2006, he said.
Timken India Limited is a subsidiary of US-based The Timken Company.
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