SKF India clarifies on news item regarding power transmission foray

With reference to the news item appearing in a leading financial daily titled "SKF India to electrify power transmission products sector", SKF India Ltd has clarified that "the group is already supplying range of products for power Transmission namely Timing Belts, V-Belts, Chains, Couplings, Sprockets and Pulleys to its customers under different brand name and has not entered any new line of business.

Customers today require integrated solutions to enable them to have an edge in this fast paced and highly competitive industry. With the Rs 1000-crore industry for power transmission products being fragmented, the Company in keeping with its mission to be a total Knowledge Engineering Company, is focusing on offering complete solutions to its customers by offering the entire product range under one brand name. The Power Transmission Products - Timing Belts, V-Belts, Chains, Couplings, Sprockets and Pulleys - will be offered to customers as a complete solutions package. The Company aims to focus on its existing verticals such as Cement, Steel, Paper, Textile and Machine Tool segments to promote these products."

Source : Equity Bulls

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