INDUSTRY GROWING IN PUNJAB DUE TO BUSINESS FRIENDLY ATMOSPHERE .
SFN’S SECOND FACILITY IN PUNJAB TO MANUFACTURE OIL SEALS AND SEALING PRODUCTS FOR AUTOMOTIVE AND ENGINEERING INDUSTRY FOR DOMESTIC AND GLOBAL MARKETS.
THE SFN UNIT TO EMPLOY 2000 WORKERS OUT OF WHICH 50 % WORKERS TO BE WOMEN.
NewZNew (Mohali) : Punjab Chief Minister Prakash Singh Badal today inaugurated the state of the art plant of Sigma Freudenberg NOK (SFN), an Indo-German- Japanese joint venture for manufacturing of oil seals and sealing products for Domestic and Global markets on February 4, 2015 at Basma, near Rajpura in Punjab. The plant has been set up with a total investment of Rs.185 crore.
“Punjab is the first state in the country to adopt one –stop clearance by setting up Bureau of Investment Promotion for the investors to set up new industries . As a result we welcome setting up of new unit by Sigma Freudenberg NOK. The industry is expanding in the state because of pro industries policies, the bureau has cleared about 200 projects since its inception. We also laud the SFN for generating employment for local youth and especially 50% jobs for women. The setting up of an Agro Park by ITC at Kapurthala cost Rs 750 Crore and Investment plans by Cargil, Sonalika and Airtel will help the State generate employment. Govt is now planning to set up a Skill training unit in PPP .The state has already waved off VAT, for 10 years for new investor Unit in the state” said S. Prakash Singh Badal while inaugurating the SFN unit
“The ultra modern unit set up in 40 acres of land with 2,50,000 Sq ft as covered area in Basma is the second unit of the SFN to come up in the state of Punjab. An earlier oil seal producing unit of the SFN Joint venture has been successfully functioning in Mohali since year 2001. The second unit has been set up to meet the ever growing demand of oil seals in various sectors including automotive, agriculture, construction, mining ,power and steel industry “said Mr J.D.Singh, Chairman, Sigma group.
[blockquote author=” said Mr Kabir Singh, Managing Director, Sigma Freudenberg NOK ,while speaking on the occasion.” pull=”pullright”]“German partner –Freudenberg and Japanese partner NOK, cooperate globally in the oil seal business and the alliance commands 70 % of the global market .In India SFN commands a dominant position in the Domestic market. The various types of oil seals which are a major critical component of any automotive or engineering industry that seals lubricants and prevents the leakage of lubricants, water, or chemicals, additionally prevents the ingress of dust and dirt into any equipment, thereby substantially increasing its useful life.”[/blockquote]
“The SFN Basma unit will produce oil seals including Radial Shaft Seals for Engine, Shock Absorber Seals, Valve and Steering Seals and Rubber Boots and O-Rings for various Indian and Global automotive companies including Maruti Suzuki, Honda Siel, Tata Motors, Toyota, Ford, Ashok Leyland, Lucas TVS, Toyota, Eicher, Escorts Hyundai, Volkswagon, and Mercedes. It will produce and export hydraulic, Pneumatic oil seals,packaging and diaphragms for engineering industry including Tata steel, Jindal steel, ABB, BHEL, ONGC, JCB, BEML, Bosch Rexorth, and tractor units” said Mr Singh.
The 100 per cent eco friendly SFN Basma unit will generate employment for more than 2000 skilled and semi skilled workers with about 50 per cent being women mostly from nearby towns and villages including Banur, Rajpura, Mohali and Ambala.
Those present on the occasion of Inauguration, will include Chief Minister of Punjab, some Senior Punjab Ministers including Sukdev Singh Dhindsa, Parminder Singh Dhindsa, Mosato Tsuru ( Chairman NOK – JAPAN), Claus Mochlankemp (Board Member – Freudenberg- Germany ).