Bearing maker NSK bets on growth in coming years despite current slumpValor International
Despite a slowdown in vehicle and machine equipment sales, bearing manufacturer NSK sees an opportunity to grow sales in Brazil to R$500 million within the next ten years, or about 70% more than the R$295 million reached last year. The company is betting especially on growth in sales for industrial transport projects in coming years as well as for the company's traditional markets in vehicles and machinery. In particular, it is optimistic about the possibility of supplying more than 1 million bearings for Vale's 80 kilometers of conveyor systems needed to transport iron ore from that company's operations in Carajas, Pará. NSK Brasil president Carlos Storniolo says the plan for increasing sales also includes eventually raising its auto sector sales to 50% of the company's local revenue from 30% currently, and also boosting exports. NSK, which is based in Japan, manufactures products locally at a plant in Suzano, São Paulo. The company posted more than $8 billion in sales around the globe last year, and is a key supplier for both Honda and Toyota.