Bearings and clutch specialist Schaeffler plans investments of around EUR300m (US$389m) by the end of 2012 to build three new factories and expand capacity at its existing 11 plants in Asia.
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“Asia remains one of the regions in the world with the highest increases in growth and sales for us in the long term. The growth rates across all industrial segments have been enormous during the last few years,” Schaeffler chief executive Juergen Geissinger said in a statement cited by Reuters.
“By expanding our existing manufacturing locations and constructing three new factories, we are strengthening our profile and our presence in the Asian economic region.”
Schaeffler said it would set up two green field sites in China to produce rolling bearings and powertrain components, while another automotive parts plant would be opened in India. Separately, capacity would be further expanded in China, India, Korea and Vietnam.
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