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The eBearing News
For the Year 2003
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18 December, 2003
Hastings Manufacturing completes voluntary stock delisting action
Troubled bearing and engine parts manufacturer now trades on the pink sheets.
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17 December, 2003
Nachi launches three-year capital investment project
Amid turnaround to profitability, company targets long-term growth prospects.
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16 December, 2003
GSI Lumonics acquires Westwind Air Bearings
Cobham divests Westwind after lengthy efforts; GSI acquires key related technology.
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15 December, 2003
Timken receiving $70+ Million CDSOA payout
Controversial dumping duty distribution will include a portion of Torrington's.
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12 December, 2003
SKF closing CR Franklin seal plant, curtails Guadalajara operations
Further consolidation of North American operations targets cost-competitive segments.
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11 December, 2003
NTN delivering third generation hub assemblies with rotors
Drivetrain vibration reduced by finish-machining rotors on the bearings.
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10 December, 2003
Bearing Man reports first half 2003 results
Sales and earnings rise, but bearing profits suffer from price competition.
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9 December, 2003
Kaydon reports third quarter 2003 results
Specialty Bearing restructuring continues; $2 million improvement due in 2004.
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8 December, 2003
RBC reports second quarter fiscal 2004 results
Bearing sales improve to both defense and industrial sectors.
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2 December, 2003
Automakers deal with bearing-related recalls
Ford, GM, DaimlerChrysler, Volvo all facing unexpectedly high failure rates.
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1 December, 2003
INA/FAG acquisition of SNFA stalled by EC inquiry
EC orders in-depth approval investigation, other manufacturers raise anticompetition issues.
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24 November, 2003
ArvinMeritor abandons Dana acquisition
Sweetened offer fails to gather support, sparks questions about ability to pay.
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24 November, 2003
NSK expands production in Brazil
Strained capacity and wider market service plans push NSK Brasil growth.
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19 November, 2003
NTN establishing more joint ventures in China
Company continues aggressive moves into CV joints and components.
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18 November, 2003
U.S. ITC answers court-ordered remand, votes to continue dumping duties on bearings
Challenges to duty continuations and revocations from 2000 Sunset Review persist.
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17 November, 2003
Kolbenschmidt Pierburg expands bearing production in Brazil
Engine bearing and bushing manufacturer plans to triple worldwide sales.
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17 November, 2003
Applied Industrial acquires Rodamientos y Bandas de la Laguna
Key U.S. bearing distributor continues expansion in Mexico via acquisitions.
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13 November, 2003
Minebea sourcing more bearing steel in China
Shanghai bearing plant plans major production increase, local sourcing for 52100 steel.
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12 November, 2003
SKF opens bearing factory in China
Deep groove ball bearing joint venture gives SKF five plants in the country.
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11 November, 2003
U.S. manufacturing growth at 13-year and 19-year highs
As recovery gains strength, employment lags and shipping shortages cause rising rates.
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10 November, 2003
NN reports third quarter 2003 results
All up from acquisitions; fourth quarter forecasts steady.
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10 November, 2003
Timken and Bowling retiring, WJ Timken to lead Steel Group
WR will remain Chairman, Bowling retires after career at Steel.
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5 November, 2003
NTN joint venture company building axle plant in Indiana
NTN Driveshaft gets more capacity, less outsourcing.
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4 November, 2003
FAG finalizes plan to acquire $50 million share of Shanggong
Investment produces joint venture as Shanggong will then acquire FAG's Duerkopp Adler.
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3 November, 2003
Engine bearing maker Taiho Kogyo acquiring Nippon Gasket
Major OEM engine parts supplier extends synergies with third gasket company venture since 2000.
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3 November, 2003
Russian Federation's Bearing 2003 Exhibition set for Moscow this week
Second annual Exhibition features extensive conferences, seminars, networking opportunities.
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30 October, 2003
Timken India reports third quarter 2003 results
Sales improve slightly, profits almost double from 2002.
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30 October, 2003
SKF India posts strong third quarter 2003 results
Sales up 25%, profits up 22% for India's dominant bearing company.
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29 October, 2003
NTN and Nidec will triple disk drive bearing production in China
Newly-opened joint venture plant is already beyond designed capacity.
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28 October, 2003
Timken reports $1.3 million loss for third quarter 2003
Torrington acquisition issues continue to trouble, but fourth quarter projects improvement.
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27 October, 2003
NSK wins major Toyota truck contract
Most bearings in high-volume Hilux pickup truck will be from NSK in Thailand.
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22 October, 2003
RBC will acquire Timken's Standard Plant airframe bearing business
Acquisition extends RBC's aerospace reach, frees Timken from noncore business.
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21 October, 2003
Hastings Manufacturing voluntarily seeks stock delisting
Parent company of ACL bearings, Zollner, Hastings seeks to lower regulatory burden.
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20 October, 2003
Continental acquires Japanese manufacturer of bearing sensors
Joint venture company acquires operations in China and Japan.
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20 October, 2003
Oconomowoc Manufacturing receives ISO certification
Leading custom unground bearing producer achieves ISO9001.
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16 October, 2003
Kia will supply steel to Delphi for automotive hub assemblies
Kia Steel claims 100,000 ton Korean capacity for hub assembly forgings.
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15 October, 2003
SKF reports third quarter 2003 results
Improvements again hampered currency and exchange rate effects.
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15 October, 2003
Service Network offers upgrade for ubiquitous Heald grinders
Heald ID grinders now can have digital controls, .00001" resolution.
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14 October, 2003
NN acquires Kinex-KLF rolling elements business
Company expands Eastern European reach, paralleling customer moves to the region.
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13 October, 2003
Moody's downgrades Timken debt, company responds publicly
Downgrade to junk is first below-investment-grade rating in the company's history.
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10 October, 2003
SKF closing Etzenhofen/Puettlingen plain bearing factory
Competition and cost structure conspire against increasingly commoditized plain bearings.
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9 October, 2003
NSK expects European operations will return to profitability
Continued losses reversed by restructuring and increased demand from Japanese automakers.
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8 October, 2003
Vologda Bearing Factory receives ISO certifications
Russian bearing manufacturer now attracting international OEM customer interest.
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7 October, 2003
Federal-Mogul reorganization hits setbacks
Court denies change in investment structure amid deteriorating business conditions.
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6 October, 2003
NSK Franklin plant marks tenth anniversary
Celebration marred by simultaneous announcement of ArvinMeritor plant closing.
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2 October, 2003
Trelleborg completes acquisition of Polymer Sealing Solutions
Leading polymer seal and bearing operation becomes entire Trelleborg division.
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1 October, 2003
INA acquires PraTec
Linear and bearing system motor producer rounds INA portfolio, adds expertise.
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30 September, 2003
Morgan sells Morgoil bearings for more Chinese mills
Leading rolling mill bearing supplier rides surge in Chinese mill construction.
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29 September, 2003
FAG restarts SNFA takeover action
Thwarted in 2002, new European Commission filing with AIG triggers venue change.
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23 September, 2003
Timken cuts earnings outlook and more jobs
Hard times in automotive drive shakeup, more layoffs and third earnings forecast cut.
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22 September, 2003
Minebea faces pricing pressure despite market share and Matsushita venture
Company plans to boost sales, invest in technology, but not hire more workers.
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19 September, 2003
Krueger Bearings relocates to Milwaukee
City aids babbitt bearing company's move to triple space and add capacity.
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16 September, 2003
Daibea sets 20% cost reduction target for fiscal 2003
Key Koyo vendor plans to tackle increasing competition head on.
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15 September, 2003
SKF seeks delisting from three exchanges
Company cites globalization of equity access for decision to withdraw from three of five exchanges.
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12 September, 2003
FAG continues investment and expansion in Hungary
Growing automotive demand, global manufacturing realignments create growth opportunities.
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11 September, 2003
GKN Automotive becomes GKN Driveline
Change reflects focus on becoming integrated transmission-to-wheel-bearing supplier.
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11 September, 2003
Kaman acquires Industrial Supplies
Acquisition adds 5 locations, extends Kaman's reach to 68 key North American markets.
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10 September, 2003
Bearing inventor David Garnett dies in the UK
Invented market-leading molded no-lube polymer bearing.
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9 September, 2003
Kian Ho reports first half profits, shareholder changes
Performance improves while major shareholders swap holdings.
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8 September, 2003
SKF Brazil reports strong first half results
Sales for 2003 are forecast to be up at least 20% over 2002, despite weak economy.
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3 September, 2003
Nachi reports first half 2003 results
Profitable half reverses 2002 loss, plans now include widespread production expansion.
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2 September, 2003
Koyo buys out partner in TRW Koyo Steering Systems Co.
Grumman divests unwanted TKS venture to Koyo for $76.5 million.
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29 August, 2003
Cobham reaffirms fate of Westwind bearing unit
Sweeping reorganization leaves no place for Westwind amid aerospace and defense focus.
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28 August, 2003
Nachi launches Czech manufacturing venture
Company joins other bearing manufacturers following their customers to eastern Europe.
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27 August, 2003
Russell T. Gilman becomes SKF Precision Technologies
Name change for 50-year-old company consolidates equipment products and services.
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26 August, 2003
Police raid counterfeit bearing distributor in India
Large quantity of counterfeit SKF bearings seized in Maradana.
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25 August, 2003
China's bearing manufacturing continues rapid growth
Reports and forecasts show accelerating capacity growth amid continued pricing pressure.
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21 August, 2003
Counterfeiting scheme targets SKF payroll checks
South Carolina gang uses home computer, color printer, and their real names.
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20 August, 2003
SNR Brazil boosts sales and market share
Key Mercosur market provides growth opportunities for French bearingmaker.
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19 August, 2003
Applied Industrial reports fiscal year 2003 results
Sales up slightly, with scattered bright spots in Canada and niche markets.
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19 August, 2003
NSK reports first quarter 2003 results
Company finances improve but western markets are expected to continue weak.
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18 August, 2003
FAG India reports strong second quarter 2003 results
Strong Indian market growth, roller bearings help sales grow 14% and profits 42%.
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15 August, 2003
INA dedicates new corporate R&D facility
Corporate R&D now centered in $27 million Herzogenaurach facility.
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14 August, 2003
SKF begins VMZ restructuring, cutbacks
Bulgarian facilities coming out from under state-mandated moratoriums.
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13 August, 2003
NTN reports first quarter 2003 results
Earnings improve as company dramatically boosts full-year sales and earnings forecasts.
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12 August, 2003
Workers on strike at Gabriel bearing plant in India
High-volume engine bearings plant in Parwanoo affected.
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11 August, 2003
Amatsuji posts strong first quarter sales, boosts forecasts
Ball manufacturer sees sales uptick, forecasts sales will more than double in 2004.
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7 August, 2003
Nidec records record quarterly profit jump, prepares for control of Sankyo
Nidec posts ninefold profit increase, leading fluid dynamic bearing motor producers will now work together.
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6 August, 2003
EnPro Industries reports second quarter 2003 results
Strong Euro hurts and helps Glacier Garlock Bearings division.
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5 August, 2003
Timken pursuing sale of Torrington Standard Plant
Historic facility is second Fafnir plant put on the block.
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4 August, 2003
NN reports second quarter 2003 results
Sales up sharply with acquisitions, third quarter projected flat, but further acquisitions possible.
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31 July, 2003
Kaydon reports improved second quarter 2003 results
Sales and profits rise while company successfully floats $200 million in long-term notes.
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30 July, 2003
VW Beetle production ends today
Final curtain falls on era of the world's longest-running car model.
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29 July, 2003
SKF India reports strong second quarter 2003 earnings
Year-on-year and quarter-on-quarter results continue upswings as company leverages operating improvements.
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28 July, 2003
Timken reports second quarter 2003 results
Torrington surprises, restructuring hiccups, market weakness, steel business costs produce surprise shortfall.
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22 July, 2003
SKF falls short in bid to acquire Polymer Sealing Solutions
Trelleborg AB acquires PSS, extending its reach into precision seals and antivibration systems.
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21 July, 2003
Timken will close Torrington Fafnir ball bearing plant in Rockford
One-time world's most advanced bearing plant falls victim to world economics.
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17 July, 2003
SKF wins 2003 Podio Ferrari Innovation Award
Prestigious award follows 56-year relationship.
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16 July, 2003
United Bearing launches new website
World's largest source for out-of-production bearings puts stock catalog and special offers online.
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15 July, 2003
U.S. Customs lists eligible 2003 CDSOA recipients and payouts available
Includes table of potential bearing industry claimants and their related cases.
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14 July, 2003
SKF reports second quarter 2003 results
Production cutbacks will continue as sales forecasts continue dreary.
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10 July, 2003
Timken closing three regional service centers in favor of one CoLinx facility
Consolidation follows last year's sale of two RSCs to CoLinx.
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9 July, 2003
SNI announces new line of bearing grinders
OD grinders compliment existing lineup of ID grinders.
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8 July, 2003
ArvinMeritor in hostile takeover bid for Dana Corporation
$4.4 billion deal involves major bearing industry vendors and customers.
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7 July, 2003
Hiwin reveals massive expansion project
Leading aerospace and linear bearing producer bets heavily on Taiwan manufacturing.
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3 July, 2003
NSK acquires NSK-Torrington joint venture from Timken
NSK exercises buyout clause for $146 million; other NSK-Timken projects continue on track.
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2 July, 2003
Timken targets Ukraine, eastern European markets
Company reportedly projects fivefold sales increase within two years.
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30 June, 2003
India hits imported ball bearings with high anti-dumping duties
Ball bearings under 50mm from China, Russia, Poland and Romania are slammed.
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27 June, 2003
Glacier Garlock Bearings names new president
Bernd Fischer named to post after abrupt departure of Tom Piesch.
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25 June, 2003
Timken lands first major consolidated contract
VAI Industries orders combined Timken/Torrington bearings for China projects.
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24 June, 2003
Minebea launches early retirement program
Sweetened offer to attract 170 more Japanese employees will cost ¥400 million.
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23 June, 2003
SKF and ZF Sachs form marketing partnership in Brazil
Leveraging aftermarket distribution targets doubled sales by 2007.
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19 June, 2003
Nachi-Fujikoshi boosts 2003 sales forecast
Improving sales to virtually all sectors, early estimates also boost stock price.
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18 June, 2003
NTN reports fiscal year 2002 results
NEW Plan 21 strongly impacts results but forecasts improve for next year.
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17 June, 2003
SKF announces senior management changes
Key promotions come amid creation of new operating units.
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16 June, 2003
British motorists deal with major roadway bearing failures
Thelwall Viaduct on country's second-busiest road now closed for two years to replace 136 bearings.
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13 June, 2003
Glacier Garlock Bearings acquires Saver North America
World's largest composite bearing manufacturer consolidates market position.
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12 June, 2003
Tenmat abandons Railko acquisition
Tenmat's inability to reach agreement with parent saves Railko facility, jobs.
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11 June, 2003
ABI relocates from Los Angeles to Industry
Aftermarket bearing and seal importer quintuples facility size to meet demand.
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10 June, 2003
Pakistan will reduce tariffs on bearings
Effort tackles overwhelming smuggling activity as part of economic reform package.
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9 June, 2003
Indian authorities set conditions of NRB acquisition by Timken
Tight restrictions cover activity, voting, and offer price.
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6 June, 2003
Oiles Bearing to build manufacturing plant in the Czech Republic
Major new facility in Kadan will service European automotive industry.
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5 June, 2003
Jesa Groupe establishes UK office
Jesa UK extends Swiss specialty bearing manufacturer's reach to six countries.
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4 June, 2003
U.S. manufacturing activity rose in May, hints at recovery
New orders and production rose, but manufacturing employment fell for 32nd straight month.
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3 June, 2003
SKF releases new General Catalogue
Thirteen-year cycle delivers new edition of the bearing industry's most comprehensive guide.
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2 June, 2003
China projects specialty steel production and demand for 2003
Overall demand expected to top 10% increase, including bearing-related steel.
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29 May, 2003
NTN makes Discovery Channel program segment available online
How It's Made program features NTN Canada production of single-row ball bearing.
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28 May, 2003
EnPro reports first quarter 2003 results
Glacier Garlock Bearings benefits from European market improvements, Euro valuation.
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27 May, 2003
China's bearing manufacturers face SARS concerns
Outbreak could shut down operations; vulnerability in JIT supply chains.
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23 May, 2003
FAG acquires full ownership of FAG Hanwha for $94 million
Largest Korean bearing manufacturer is now INA's foundation for growth in the region.
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22 May, 2003
Timken takeover of NSK-Torrington joint venture still in question
$200 million Japanese needle bearing venture now celebrating its 40th anniversary.
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20 May, 2003
FAG lands Finnish machinery contracts
Orders will double from world's largest maker of paper and mineral processing machinery.
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19 May, 2003
Bearing industry hard hit by industrial inventory replenishment slowdown
April order lead times drop dramatically; bearings now track bulk commodities.
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15 May, 2003
SKF acquires Australian rail bearing service company
Rolling Stock Supply & Service becomes SKF's latest niche business acquisition.
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14 May, 2003
ArvinMeritor launches new line of center support bearings
Meritor Gold tries new approach to deal with commoditized center support market.
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13 May, 2003
Minebea's Thailand investments will top 3.5 billion baht in 2003
Investment plan follows 2 billion baht spent on bearings and motors in 2002.
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12 May, 2003
India imposes anti-dumping duties on ball bearings from four countries
China, Poland, Russia and Romania hit with high per-unit duties.
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9 May, 2003
SKF restructuring aftermarket distribution in India
Focus on underserved rural areas leverages existing distribution network.
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8 May, 2003
NSK Brazil and Emerson / CSI establish maintenance services partnership
Key agreement marks NSK's first move into value-added services.
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8 May, 2003
GKN produces one hundred millionth powder metal main bearing cap
Tenth anniversary of the product shows accelerating applications.
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7 May, 2003
Rose Bearings Becomes NMB Minebea UK Ltd.
Brand will remain in place as Minebea pursues corporate image unification.
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6 May, 2003
Kaydon reports first quarter 2003 results
Sales and earnings improve on spikes in aerospace and military demand.
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5 May, 2003
FAG acquires MB Industries
Canadian division acquires key producer of truck driveline center supports.
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5 May, 2003
Craft Bearing joins Bearing Specialists Association
Split roller bearing manufacturer joins with distributors and end users.
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2 May, 2003
New Jiangsu Bearing Industry Association is formed
Association attracts more than 50 founding members from the center of China's bearing industry.
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2 May, 2003
SKF standardizes new HSL seal design on high-volume ball bearings
Company applies premium technology to de-commoditize deep groove ball bearings.
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1 May, 2003
Federal-Mogul reports first quarter 2003 loss
Sales dip 2% as company heads into major recapitalization to exit Chapter 11.
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1 May, 2003
Stekloplastik privatization effort restarted
Ukraine begins fifth effort to dispose of state-run thermoplastic producer.
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30 April, 2003
Timken releases first quarter 2003 results
First period to include Torrington shows strong potential of the acquisition.
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30 April, 2003
NN reports first quarter sales and earnings both up sharply
Currency effects double net income while company continues on acquisition trail.
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29 April, 2003
NSK acquires NTN's ball screw business
NTN divests money-losing division, NSK consolidates market position.
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29 April, 2003
FAG Bearings India reports strong results for 2002
Company declares record 40% dividend on 32% profit jump.
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28 April, 2003
Bearing Conference 2003 a success, despite multiple challenges
2004 Conference set for Bratislava.
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28 April, 2003
SKF India reports strong first quarter results
Sales and profits both come in far above expectations.
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25 April, 2003
Breakthrough Shimano magnetic wheel bearings unlikely
Widely reported revolution is probably a misunderstanding, say experts.
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24 April, 2003
NTN employees oversubscribe early retirement program
Generous incentives help promote key initiative of NEW Plan 21.
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24 April, 2003
SKF acquires Scandrive Control
Acquisition helps consolidate SKF position in another niche market.
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23 April, 2003
President Bush will visit, deliver speech at Timken Research on Thursday
Area visit supports Timken, promotes tax cut and economic stimulus package.
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23 April, 2003
Tata Bearings reports production volume up 14%
Operation now running 80% of capacity, future under Tata still cloudy.
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22 April, 2003
SKF reports first quarter 2003 results
Gross sales up 8.1%, offset by currency fluctuations.
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21 April, 2003
Timken India plans diversification moves
While growth of export bearing sales slows, value-added services targeted.
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18 April, 2003
Timken and NSK break ground on Chinese joint venture plant in Suzhou
$40 million facility dedicated to automotive sizes of single-row tapered roller bearings.
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18 April, 2003
Harbin-Hangzhou joint venture launched
Hangzhou City development zone hosts another bearing manufacturer.
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17 April, 2003
Minebea projects fiscal year loss of ¥3.2 billion
Losses on shareholdings contribute to ¥9.7 billion reversal of fortune.
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17 April, 2003
SKF Bearings India added to BSE-200 Index
Major Index reshufflings replace thinly-traded shares with more stable companies.
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16 April, 2003
SKF acquires Electromotoren AG
SKF diversifies further, becomes world's second-largest actuator company.
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16 April, 2003
FAG Joplin receives job training grants
Missouri grant program covers 90 employees.
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15 April, 2003
INA CEO Geissinger discusses 2002 results, future plans
Company reveals it will become China's largest wheel bearing manufacturer in 2004.
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14 April, 2003
NSK projects fiscal year loss of ¥4 billion
Second downward revision shows impact of sharp stock price drop.
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14 April, 2003
China reports bearing steel wire output for 2002
Special Steel Association says five-company total topped 73,000 tons.
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11 April, 2003
Rick Thomas named President of NTN America
Former President of NTN Canada replaces Hirotsugu Mori.
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10 April, 2003
North Coast and Loctite establish key distribution partnership
Premier supplier of adhesives and sealants teams with largest differential and transmission kit producer.
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9 April, 2003
Aetna Bearing restructuring, asset sale set for April 10, 2003
Prearranged auction allows parent GWB to continue operations after aggressive restructuring.
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3 April, 2003
U.S. ITC ends China ball bearing dumping investigation
Unanimous vote after year-long investigation finds no injury to the U.S. industry.
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1 April, 2003
Pakistan Reopens Afghan Cross-Border Trade to Ball Bearings
First key industrial product import reinstated, transportation infrastructure to be improved.
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31 March, 2003
FAG Wins Rolls-Royce Engine Bearing Contract
Leading-edge Trent 900 engine contract worth € 20 million to start.
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27 March, 2003
NTN-Bower hits Macomb plant with more job cuts
Layoffs now top 20% in four rounds since late 2001.
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25 March, 2003
Romanian bearing factory workers stage walkout and protest in Brasov
Rulmentul Brasov workers protest layoffs announced for local state-run businesses.
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24 March, 2003
Timken will close Darlington UK Torrington facility
High costs, overcapacity doom another UK bearing plant; equipment moving to Romania.
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20 March, 2003
Recent U.S. Government supply contract awards for bearings
14 contracts detailed.
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19 March, 2003
Kaydon wins dismissal of 8-year-old lawsuit by Keene creditors
Bairnco and spinoff companies targeted in $700 million suit tied to asbestos liabilities.
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18 March, 2003
China reports bearing exports for 2002
Exports up 13% in 2002, on track to increase 18% in 2003 to over 2 billion sets.
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17 March, 2003
RBC reports third quarter 2003 financial results
Improvements credited to defense and industrial aftermarket.
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12 March, 2003
Pfizenmaier retires as President and CEO of Hoover Precision
Well regarded 40-year industry veteran also served on ABMA and WIMA boards.
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11 March, 2003
Ball Bearings and Parts from China: Final Dumping Duty Schedules
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11 March, 2003
U.S. issues final antidumping duty rates for Chinese ball bearings
Revised duty schedules follow official finding of sales at less than fair
value, year-long investigation, hearings, reviews, calculations.
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7 March, 2003
Recent U.S. Government supply contract awards for bearings
33 contracts detailed.
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6 March, 2003
SKF Working Overtime in Spain Troubles Basque Unions
Unions claim Tudela plant unfairly works more than 80 overtime hours per year.
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5 March, 2003
NN reports fourth quarter and fiscal year 2002 results
Profits more than doubled while acquisitions and restructuring continue.
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4 March, 2003
Kian Ho warns on second half 2002 financial results
Profit trend reversed by falling sales and troubles in its China operations.
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3 March, 2003
Kaydon reports fourth quarter and fiscal year 2002 results
S&P MidCap Index position lost; specialty bearing unit becomes restructuring target.
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28 February, 2003
Tsubaki Hoover acquires Polish ball manufacturer ZET
Eighth rolling element factory is company's second recent acquisition in eastern Europe.
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27 February, 2003
Bearing Technologies acquires Green Bearing
Acquisition strengthens key U.S. aftermarket hub assembly manufacturer.
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26 February, 2003
FAG abandons acquisition of SNFA
Bundeskartellamt argues market dominance would have resulted.
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25 February, 2003
NRB India reports Timken ownership via Nadella, Torrington
Timken's Torrington acquisition creates opportunity to leverage Indian market.
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24 February, 2003
SKF India posts strong fourth quarter and fiscal year 2002 results
Sales and earnings helped by effect of substantially reduced debt load.
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20 February, 2003
Recent U.S. Government supply contract awards for bearings
47 contracts detailed.
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19 February, 2003
Timken completes Torrington acquisition
$840 million deal creates the world's third-largest bearing company.
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18 February, 2003
Scheerer Bearing wins Pennsylvania Governor's Export Award
State recognizes companies helping it double the national average export growth.
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17 February, 2003
INA will complete FAG acquisition, paying minority shareholders 15% premium
Final step formally ends 18-month acquisition saga, creates second-largest bearing company.
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13 February, 2003
Taiho Kogyo will supply new GM Cadillac engine bearings in U.S.
Leading supplier of engine bearings lands first GM contract.
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12 February, 2003
SKF reports on Peruvian bearing market
Growth and market penetration hampered by need to fight grey market imports.
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11 February, 2003
Minebea reports third quarter results, plans for market development
Strong operating results back up plans for high volume ball bearings and FDB market dominance.
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10 February, 2003
SKF Posts Mixed Fourth Quarter and Fiscal Year 2002 Results
Improved sales and margins were hurt by currency translation effects.
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7 February, 2003
RotoPrecision acquires WIB from NSK Europe
Canadian company will add Swiss bearing manufacturer to its European presence.
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6 February, 2003
China Reports November 2002 Bearing Exports
Year-to-date value is up 6.1% over 2001.
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5 February, 2003
Recent U.S. Government supply contract awards for bearings
17 contracts detailed.
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4 February, 2003
NN acquires FAG interest in joint venture NN Euroball ApS
Acquisition leaves NN with 77%, SKF with 23%, of ball manufacturing venture.
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3 February, 2003
Federal-Mogul reaches reorganization agreement with creditors
Plan divides ownership among creditors; shareholders get nothing.
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30 January, 2003
Applied Industrial reports second quarter 2002 results, IECO acquisition
Sales improve slightly, with net income rising 32%.
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29 January, 2003
SKF President and CEO Carlsson to retire, Johnstone named as successor
Tom Johnstone started out at the bottom, moves up from President of Automotive.
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29 January, 2003
Nichimen and Asahi form second bearing ring joint venture in China
Second Shaoxing factory will produce millions of small finished rings each month.
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28 January, 2003
NASTECH now NSK Steering Systems America Inc.
NSK cuts final tie in Torrington joint venture; U.K. and Indian operations not affected.
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27 January, 2003
Torrington receives $68 million CDSOA payout, reports 2002 results
Timken acquisition target reports final results as division of Ingersoll-Rand.
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27 January, 2003
Honeywell names SKF India as qualified vendor
Bearing manufacturer is one of only six Indian companies approved as vendors
in $250 million program.
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23 January, 2003
Timken reports third quarter and fiscal year 2002 results
Sales improve while bottom line reflects reduced expenses and massive CDSOA payout.
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22 January, 2003
NSK wins contract to supply Volkswagen hub assemblies
Peterlee plant expansion needed as yearly volume jumps to 2.4 million.
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21 January, 2003
Recent U.S. Government supply contract awards for bearings
21 contracts detailed.
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20 January, 2003
SKF acquires U.S. ball screw maker Twentieth Century Machine
Company says acquisition is unrelated to INA/FAG CBSSB divestiture.
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16 January, 2003
Eurocopter subject of another bearing-related Airworthiness Directive
U.S. FAA action follows several other control bearing issues.
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15 January, 2003
Craft Bearing expands into Canada
New effort for split roller bearing producer also adds three warehouses.
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13 January, 2003
NTN negotiating Indian joint manufacturing venture with NEI
Deepening relationship would provide NTN with source for lower cost branded bearings.
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10 January, 2003
Shanggong investing $24 million with FAG
Chinese sewing machine company will issue new shares for investment in FAG division.
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8 January, 2003
Recent U.S. Government supply contract awards for bearings
31 contracts detailed.
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7 January, 2003
Minebea achieves ISO14001 at all facilities worldwide
Certification of New Hampshire Ball Bearings plant in Laconia completes 5-year effort.
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6 January, 2003
China Reports October 2002 Bearing Exports
Bucking trends, year-to-date volume is up 11% over 2001.
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- by Bruce A. Carr
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tips and commercial sources.
Unauthorized reproduction is prohibited.
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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.
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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.
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