The Timken Automotive Aftermarket Distributors’ Meet, held in Goa during May 22-24, saw 60 distributors participating in the event. The theme of the meet was ‘Powering Performance’, emphasising the importance of collaborating with each other for power performance. The three-day event was packed with many exciting events. The second day of the conference was very important for the distributors who got an insight on the Timken strategy and direction. On the occasion, a Timken-branded mobile van for the automotive aftermarket sector was launched. The van was designed to travel across all the southern States campaigning for the company products.
In his special address on the occasion, Mr. Peter Sproson, Vice President – Sales of India, Africa, ASEAN & Russia, and Managing Director – Europe for Timken Company, said that Timken, based in North America, is one of the largest producers of bearings. The global bearing industry is worth around $70 billion. An 118-year-old company, it has recently gone through a significant transformation. A remarkable change in business is in its channel mix. Today, it has a much higher concentration of its mix in aftermarket parts versus new equipment builds. It sold over $1 billion of OEM new equipment to build revenue through transformation.
He further observed that after having leveraged on its technology and knowhow through a combination of acquisitions and product development, Timken acquired Torsion Control Products based in Michigan in April last, as also PT Tech based in Ohio in May. The company is a global leader in tapered roller bearings, and its potential for continued penetration of the bearings market is still very high.
With a product range which today is one of the broadest in the industry, Timken has spent the last 15 years for repositioning itself. In addition to the expansion of the broader bearing product range and power transmission products, it has reduced its exposure to the global automotive market and now has a smaller more profitable position there. It has also spun off its steel business, Mr. Peter Sproson added.
In his address, Mr. Sanjay Koul, Chairman & Managing Director, Timken India Ltd., disclosed that Timken India has been granted the Three Star Export House Certificate by the Ministry of Commerce & Industry. It also received the Golden Peacock Award for Business Excellence from the Institute of Directors India, while the Indo-American Chamber of Commerce (IACC) presented it the Award for Excellence in Manufacturing (US Company in India).
He also referred to the Jamshedpur plant achieving another important hallmark that’s highly valued by global rail customers – the International Railway Industry Standard (IRIS) certification.
The company invested $29 million to add the new rail facility and TS expansion at Jamshedpur, and another $19 million to add two CRB lines and for four low volume roller lines in Chennai.
Mr. Sanjay Koul also said that while the Golden Channel Partner of the Year was awarded to Speed-A-Way Pvt. Ltd., the Sales Growth Achievement Award for 2016 was presented to Associated Auto Parts Pvt. Ltd. The Sales Excellence Award for Bearings went to Parnav Agencies Pvt. Ltd., while the Sales Excellence Award for Grease went to Speed-A-Way Private Ltd.