Koyo Seiko Company (Osaka, Japan) will be closing its miniature bearing factory in Takamatsu by the end of 2002.

The company said the plant's closing is one step in an overall corporate-wide cost reduction strategy, not a move away from miniature bearings.

Takamatsu's production will be moved to lower cost facilities in China and other locations.

The plant currently employs approximately 300 people, but Koyo said those employees will be offered positions at other facilities.