A consolidated presence in emerging markets is a major challenge for Spanish SMEs with experience in internationalising their business. Since 2006, in addition to its five production plants in the Basque Country, NBI Bearings Europe, a company operating out of the Spanish province of Álava, has charted a distinctive course in China, an important country for technologically sophisticated bearings and metal parts. In 2019 this SME decided to enhance its presence in another market essential to the metal machinery industry: India.
“We believe that taking a stake in an established business partner with expertise in the Indian bearings industry may serve as optimal enhancement to our specialisation"
NBI Bearings Financial Director Javier Raya asserts that “consolidating our position in India is an important move to enlarge our product range and strengthen our sales in that country“. As in China, demand is growing fast in India in the wake of rising infrastructure investment.
COFIDES supported NBI Bearings Europe’s purchase of 51 % of a supplier that manufactures and commercialises bearings in that Asian country. Of the M€3.5 joint venture loan, 50 % was sourced from FONPYME and 50 % from COFIDES’s own assets. NBI’s total investment in the project came to M€5.
“We believe that taking a stake in an established business partner with expertise in the Indian bearings industry may serve as optimal enhancement to our specialisation", concludes the NBI Group Financial Director.