|
|
|
|
The eBearing News
August 1, 2000
NN, SKF, FAG Complete Joint Venture
Creating NN Euroball ApS
copyright © 2000 eBearing Inc.
NN Inc. (Erwin, Tennessee), SKF (Goteborg, Sweden) and FAG Kugelfischer Georg Schafer AG
(Schweinfurt, Germany) announced that they have completed the formation and agreement to
launch a joint venture named NN Euroball ApS.
NN will run the venture, which teams them with their two biggest customers.
Click here to read the earlier article about NN Euroball ApS
The venture will operate three ball plants, one each from the partner companies:
Pinerolo, Italy - factory formerly owned by SKF
Eltmann, Germany - factory formerly owned by FAG
Kilkenny, Ireland - factory formerly owned by NN
The ownership of the venture is as follows:
23% SKF
23% FAG
54% NN
Financing of € 31.5 million from HypoVereinsbank Luxembourg S.A. provides operating capital.
The new company will hit the ground running with 700 employees and yearly sales of
approximately € 95 million. The company will manufacture only high precision chrome steel
balls; sales will be targeted at customers worldwide, not just SKF and FAG.
|
|
|
printer-friendly version
|
|
- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
|
|
eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
trademarks of eBearing Inc.
|
|
|
|
|
| |
eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
|
|
|
