Texspin Bearings to expand capacity

Texspin Bearings of Gujarat, one of the oldest automotive bearings manufacturers in the country, plans to expand its manufacturing capacity. It has firmed up plans to set up a new plant at Ranpur (110km from Ahmedabad) at an investment of Rs 40 crore, from where it plans to manufacture 25mm to 300mm diameter bearings. According to company officials, the plant, which is expected to be operational by August-December 2015, will eventually create around 1,000 jobs in that area in the next 5-6 years.

At the recent Auto Expo, the company displayed its innovative concentric slave cylinder clutch release bearings. According to Sanjib Chowdhury, VP, corporate business management, Texspin Bearings, these bearings (hydraulically operated technology) can cut down the pedal effort by 30-40 percent, thereby increasing the convenience for the driver.

Chowdhury said the firm is the only manufacturer of zero clearance, four-point contact steering column bearings in Asia and also exports these products. Texspin also showcased the all-new united double row taper hub bearings for wheel applications (suitable for CVs) and detent pins (only manufacturer in India). Chowdhury revealed that detent pins are majorly aimed at import substitution as such supplies are currently imported into India by OEMs.

Meanwhile, Dipen Makwana, MD, Texspin Bearings, expressed happiness at the new format of the Auto Expo. He told Autocar Professional that “the number of relevant visitors at our stand at this edition increased and we received a staggering response. The one-day delay in the inauguration (February 6) was a good decision and it is good to have a separate show for component suppliers.”

The Rs 150 crore company, which has been growing at a CAGR of 25-26 percent over the past five years, expects to grow in the range of 15-20 percent during the ongoing fiscal. Revenue from direct supply to OEMs stands at 60 percent of overall business while the balance 40 percent comes from the aftermarket division.