URB Group, Europe's biggest manufacturer and producers of bearings marked its India entry with the announcement of the launch of its first ever manufacturing factory in India.
URB group, the world leaders who have 60 years of experience, manufactures over 18000 different types and versions of bearings, the world leaders in customized bearings, exporters to over 80 countries in 4 continents made an announcement to invest EUR 50 million in its factory in INDIA. URB India factory would be its fourth factory in the world with factories in Romania, Turkey and Hungary.
Mr Harun Adiguzel President of URB India said that "We have strong confidence in the Indian market. With India URB factory, we will make available authentic URB bearings at much lower prices directly to manufacturing companies in Steel, Mining, Power, Oil, Railways and along with our dealers in India. We are looking at a turnover of USD 200 million with our India URB factory in next 5 years."
The raw materials for the hundred thousand square feet factory will be sourced from Romania and will be assembled and super finished in the India factory. For the initial period, 70 % of the production will be for the domestic use and 30% for exports going on to 50-50 domestic and exports in the future. The group also informed that India production will be exported to both Europe and USA. The bearings made in India will be unique and different from the ones produced in other URB factories abroad.