BERLIN (AP) -- German car parts maker Schaeffler says it plans to build two new plants in China and one in India in the next two years as it adapts to increasing demand from Asia.
Schaeffler Technologies GmbH & Co. KG said Monday that the plants are part of plans to invest about euro300 million ($388 million) to develop its operations in Asia. It already has 11 plants in China, India, South Korea and Vietnam.
The company didn't specify where exactly the new plants will be located but said the factories in China will make rolling bearings as well as engine and transmission components.
It says that development sites in India and Japan also will be set up or expanded.
