SGO, a bearing manufacturer located in Incheon, Korea, announced that it had established a local subsidiary in India late last year to meet the demand for its popular bearings in the worldwide bearing market. SGO has already purchased 13,000 square metre of land in Chennai, India, and has decided to invest more than $4.5 million to set up bearing production facilities including foundry.
By the second half of this year, SGO plans to produce and supply oilless bearings and bronze bars to Indian construction equipment companies, plastic injection machine manufacturers, Korean auto parts manufacturers, as well as its worldwide customers.
SGO had been requested by many Indian construction equipment and injection molding machine companies using SGO’s bearings to open a local subsidiary for a more stable supply of SGO’s bearings.
Founded in Korea in 2000, SGO has been specializing in design, development, and production of oilless bearings for use in industrial machines, molds, and automobile manufacturing. Branded as “Develon”, SGO developed its patented multi-layer bearings that are a far more improved than the conventional bearings.
SGO has also decided to launch aggressive worldwide marketing strategies this year. SGO will participate in several exhibitions not only in Korea, but also in India, Japan, and Germany to promote various types of oilless bearings manufactured by SGO.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.