URB India to invest Rs 353 crore in Rajasthan unit

URB Group, one of the leading European bearing makers, has announced that it will be investing 50 million euros (Rs 353 crore approx.) at its factory located at Abu Road, in the Sirohi district of Rajasthan. The new facility, which will have an initial installed capacity of 1,000 tonnes a year, is the company’s fourth in the world with factories in Romania, Turkey and Hungary. The bearing making firm, which is present in India since 1982, will set up the facility on a 25-acre plot. The plant is expected to commence its manufacturing operations by end of 2013. The Romanian bearings manufacturer URB Bearings is gearing up to establish its manufacturing footprint in India currently has 22 distributors in India that supply bearings to a gamut of industries including mining, oil, energy, railways and automotive among others. URB group’s main products include Deep Groove Ball Bearing, Thrust Ball Bearings, Cylindrical Ball Bearings, Spherical Ball Bearings, Tapered Roller Bearings and special bearings. The new factory will supply its main distributors – GWB and SNK and agents in railway, energy, cement, steel, material handling, mining, metallurgy and agriculture. URB will also offer special and customized bearings to its end users. Florin Ene, Director URB Bearing India, said, "We are in India from the year 1982 and reached a turnover of US$20 million. Now we are celebrating the opening of our new registered office, in New Delhi, the beating heart of forever 'Incredible India'. India is one of the most promising, fast developing emergent economies in the world."