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The eBearing News
August 31, 2004
Kinex Reports First Half 2004 Results
copyright © 2004 eBearing Inc.
Kinex a.s. (Slovak Republic, a joint-stock division of HTC Holding a.s.) reported operating results
for the first half of 2004.
Sales in the first half fell 3.5% from 2003, to Sk 791.4 million (USD $24.0 million), while
profits improved slightly, to Sk 51.5 million ($1.6 million), up 8% over 2003.
Kinex is the largest producer of 2 - 130mm radial single-row deep groove and angular contact ball
bearings, and radial single-row cylindrical bearings in the Slovak Republic. Tapered roller bearings
were added in 2001. Kinex also manufactures straight roller and needle roller bearings, and specials.
Primarily, customers include automotive, truck, industrial, rail, and aerospace companies. Kinex-KLF's
fastest growing market is in rail applications, where it offers a variety of axle boxes and axle box bearings.
Bearings are sold under the Kinex, ZKL and ZVL brands.
Manufacturing bearings since 1965, Kinex became a joint-stock company in mid-1992. In September 2000,
Kinex acquired ZVL Skalica a.s.. In late 2001, Kinex acquired the former KLF-ZVL a.s. In both 2000
and 2001, Kinex reported the largest sales gains of any non-manufacturing company in the country.
In late 2003, the company divested its KLF rolling elements manufacturing business to NN Inc. (USA)
• article: NN acquires KLF rolling element manufacturing
Kinex exports almost 90% of its bearings, primarily to the United States and North America. Other
key markets are the Czech Republic, Italy, Germany, Spain, France, China, and the Netherlands.
The company partially blamed foreign exchange effects for the sales drop, noting the
continued strength of the Slovak koruny to the U.S. dollar.
With three manufacturing operations in Bytca, Skalica, and Kysucke Nove Mesto, Kinex employs
over 3,000 workers.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Copyrighted material; unauthorized reproduction prohibited.
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