The board of directors of Menon Bearings Limited approved building new production facilities for producing new products in the engine bearings, thrust washers and aluminium castings segments, taking into account future market opportunities.

Eyeing new market opportunities with a future focus, the company is ramping up its production facilities, and its proposed capacity utilisation includes 500 tonne of aluminium castings, and 110 lakh pieces of thrust washers and engine bearings.

The capacity addition will be carried out within a year, with an investment entailing approx. Rs 30 crore. The expansion will be funded through internal accruals and debt.