BANGALORE, Feb 10: The Timken Company of USA is planning to increase its stake in its Indian joint venture company Tata Timken Ltd from the existing 40 per cent to 51 per cent. According to managing director Gordon W Robinson, talks with the Tatas are at an advanced stage. Tata Timken is a joint venture between Timken company and Tata Steel with both partners holding 40 per cent of the equity and the balance with the public.Tata Timken has also entered into an agreement with Indo-Mobil Ltd to launch specialised grease for taper roller bearings in India. The grease, which will be marketed under the brand name `Trukon', has already been test-marketed in Kochi and will be launched across the country within the next two months.
Addressing the press in the Garden City on Tuesday, Robinson further said that a survey conducted by the company revealed that the quality of lubricant plays a large role in the life span of the bearing. A more suitable lubricant has, therefore, been designed by Indo-Mobil to suit theIndian climatic conditions and operating environment. Trukon will be available at Rs 98 per kg.
According to marketing director Marcos Pecorari, developing Trukon is part of the company's effort to come out of the red. Tata Timken reported accumulated losses of Rs 28 crore for 1996-97 and the position is not any better for the current fiscal. The losses were caused by the company's excessive focus on the Indian Railways which was its sole buyer for a long period. The company has now expanded its operations and is manufacturing 40 types of roller bearings from the six that were produced since its inception in 1992.
The company is also facing a problem of duplication, which is eroding its profits according to Pecorari. To this end, the bearings will now come in a special sealed pouch with the company's hologram on it. These efforts will help the company turn around by the year 2000, he added.
Southern region manager S Nair said the company supplies bearings to Ashok Leyland and Telco for trucks and toMahindra & Mahindra, TAFE, Escorts and Punjab Tractors for tractors. The company also supplied to other manufacturers like Automative Axles, Axles India and Dana Spicer.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
