Igus sees OEMs’ lightweighting efforts driving its business in India

Bangalore, January 29, 2013: Germany-based Igus, the world leader in polymer bearings, is optimistic about its business growth prospects in India. The growth driver for this optimism is vehicle manufacturers taking various steps to reduce vehicle weight to increase fuel efficiency. This, the company says, will propel its business worldwide, particularly in India.

Addressing a media conference in Bangalore today, Marc Poensgen, Head, International Group Development-Asia, Igus GmbH, said the auto industry in India has been growing. OEMs are working on various projects to reduce vehicle weight in order to increase fuel efficiency. In addition to weight reduction, he said the company’s polymer bearings have been successful in addressing auto industry related issues like wear resistance, noise and corrosion.

Poensgen said the company’s global turnover stood at around 400 million euros (Rs 2,910 crore), of which around 20 percent came from the auto segment in 2012.

In addition to the auto industry, Igus also supplies its products like dry-tech bearings, high flexible cables and energy supply chains to multiple sectors including machine tools, steel, mining and energy, he added.

The company, which has completed a decade of doing business in India with its manufacturing facility in Bangalore, has grown nearly 25 times since inception.

According to Antony P Kurian, managing director of Igus (India), the company is expected to touch Rs 60 crore in sales in 2013, of which 35 percent would come from the polymer bearing segment and the remaining 65 percent from the cable management system.

Meanwhile, Igus launched 145 new products and range extensions that will help significant reduction in energy consumption at the IMTEX 2013, the seven-day international machine tool exhibition organised by Indian Machine Tool Manufacturers’ Association (IMTMA) that began in Bangalore on January 24.

JAISHANKAR JAYARAMIAH

Photograph: Marc Poensgen, Head, International Group Development-Asia, Igus GmbH, Antony P Kurian, managing director of igus (India) and Markus Fuchs, Head, Industry Management Machine Tools, Igus GmbH, with some products for the India market.