Tata Bearings Division Reports Strong Growth

Tata Bearings Division Reports Strong Growth Tata Bearings (India, a division of Tata Steel) added to parent company Tata Steel's record-breaking performance in fiscal 2006-2007 by recording its own strong results. Every division of Tata Steel reported record annual production -- beyond the main steel division, Ferro Alloy & Mineral, Tubes, Rings and Agrico, Growth Shop, Wire, Tubes, and Bearings. Bearing output topped 30 million sets in the past year, up from 28 million sets manufactured in 2005-2006. In the late 1990's, Tata had been planning to get out of the bearing business, but lack of outside buyer interest and a gradually improving profit picture put the Bearing Division back into Tata to stay. Since 2000, production has doubled, profits are reportedly much stronger, and after ending its relationship with Timken the company has been manufacturing tapered roller bearings since 2002. Bearing Division produces ball bearings, double row self-aligning bearings, clutch release bearings and tapered roller bearings for the Indian auto industry, industrial applications, mining, textiles, two wheelers, fans, water pumps, and many others. Tata Group has just completed its record USD $12 billion acquisition of Corus Group plc. (UK), making it the world's eighth-largest steel producer and doubling the number of employees, now topping 84,000. Corus is Europe's second-largest steel manufacturer, with primary facilities in the UK and Netherlands. A family-run enterprise since its founding in August 1907 as Tata Iron & Steel, Tata is preparing to celebrate its centennial.