Sigma Freudenberg NOK inaugurate Basma oil seal plant
The Indo-German-Japanese JV caters to oil seals and sealing products production for domestic and global markets at Basma, near Rajpura in Punjab. The Sigma Freudenberg NOK (SFN) plant has been set up at an investment of Rs 180 crore. Punjab has adopted one–stop clearance through its Bureau of Investment Promotion for investors to set up new industries. Industry expansion in the state is attributed to pro industries policies. Bureau of Investment Promotion has cleared about 200 projects since inception. SFN was congratulated for generating employment, especially 50 pct jobs for women.
Development in the region includes ITC Agro park, Cargil India facility, Airtel 4G , Sonalika Tractor New unit and IT hub at rs 750 crore to generate employment. VAT has been waived for 10 years for new units here. A skill development centre with PPP model is the need of the hour, for which free land will be provided.
Sigma Freudenberg NOK (SFN) plant is spread over 40 acres, with 2,50,000 Sq ft as covered area in Basma. This is SFN’s 2nd unit in Punjab. A SFN oil seal producing unit JV has been functioning in Mohali since 2001. The new plant will meet growing demand of oil seals in automotive, agriculture, construction, mining, power and steel industry sectors said J.D.Singh, Chairman, Sigma group.
German partner Freudenberg and Japanese partner NOK cooperate globally in the oil seal business, commanding 70 pct of the global market. SFN in India is dominant in the domestic market. Oil seals are a major critical component of any automotive or engineering industry says Kabir Singh, Managing Director, Sigma Freudenberg NOK.
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. They supply to Maruti Suzuki, Honda, Tata motors, Toyota, Ford, Ashok Leyland, Lucas TVS, Toyota, Eicher, Escorts, Hyundai, Volkswagen, and Mercedes-Benz. Eco-friendly Sigma Freudenberg NOK Basma unit generates employment for upward of 2000 skilled and semi skilled workers. 50 pct of those working are from nearby towns and villages including Banur, Rajpura, Mohali and Ambala.
Senior Punjab Ministers including Sukhdev Singh Dhindsa, and Parminder Singh Dhindsa, Mosato Tsuru, Chairman, NOK, and Claus Mochlenkemp, Freudenberg Board Member and top bureaucrats from Punjab and Haryana were in attendance.