The Schaeffler Group, a German auto parts manufacturer, recently announced plans for a new plant in Asia. Schaeffler will establish two new factories in China and establish a new factory in India.
Schaeffler’s investment in this project is as high as 300 million euros (about 390 million U.S. dollars). In addition to the construction of the above three new factories, this fund will also be used to develop Schaeffler's 11 production bases in China, India, South Korea and Vietnam.
Schaeffler said that the new plant is expected to be completed in 2012 and will mainly produce components for rolling bearings, engines and transmissions.
In addition, Schaeffler will set up R&D facilities in India and Japan and expand its existing R&D centers in China and Korea.
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