That business now accounts for 12 percent of the company’s 7 billion euros in annual sales. In the long-term INA boss Juergen M. Geissinger wants the Asian market to account for between 20 percent and 30 percent of revenue.
The INA Group from Herzogenaurach includes the anti-friction bearing manufacturer FAG and the clutch supplier LuK.
INA recently boosted its stake in Seoul-based FAG Hanwha, the largest anti-friction bearing manufacturer in Korea, to 100 percent from 70 percent. INA also plans to expand the Ansan plant, which makes engine components and anti-friction bearings.
The supplier is also looking for land to extend its anti-friction bearings plant in Taicang, near Shanghai. The facility will supply automobile manufacturers throughout Asia.