1 month ago
124
Bimetal Bearings Ltd. (BBL), in association with a Scotland based firm, has decided to manufacture and sell battery pack systems and associated technologies for the e-mobility and energy sector.
The battery maker MEP Technologies Ltd., which entered into a pact with BBL in 2021, has agreed to provide the required technology for energy storage and management solutions, manufacturing and assembling of the battery packs and other allied technologies in the automobile sector and other business applications, said the company in a regulatory filing.
The new business is expected to commence production in the last quarter of FY25 or the first quarter of FY26. BBL is into the manufacturing of engine bearings, bushings, thrust washers, alloy powder and bimetallic strip. It reported a net revenue of ₹229 crore for FY23 against ₹197 crore in the earlier period.
BBL has plants in Chennai, Coimbatore and Hosur. While Coimbatore makes non-plated bearings, Hosur also makes plated bearings, large diameter bearings & flange bearings.
Recently, the board decided to consolidate its bearing operations by transferring the “Bearing unit” at Coimbatore to Hosur for achieving better operational efficiencies and better utilisation of resources. The plant consolidation process is likely to be completed by March 31.
BBL has started making powder from its Hosur Plant. Earlier, bi-metallic powder was used for internal consumption and exports for automobile and industrial applications.
