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The eBearing News
For the Year 2004
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31 December, 2004
Federal-Mogul loses key executives
Finance, legal and compliance heads resign; bankruptcy and asbestos litigation drags on.
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30 December, 2004
Koyo, NSK and NTN long-term debt upgraded by Moody's
Operating performance and financial conditions expected to continue improving.
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29 December, 2004
Bearing manufacturers among India's most valuable businesses
Six score market cap rankings in India's top 1,000.
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28 December, 2004
NSK plans to expand Hub III production by 50%
Aggressive investment targets 33% OEM market share by 2008.
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27 December, 2004
Bulgaria reschedules VMZ Sopot debt
Sale of operations to SKF and others remain unrecorded; 10 year extension granted.
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24 December, 2004
Federal-Mogul lands Michigan job retention benefits
Incentives worth $65 million help keep bearing and bushing plants from moving overseas.
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23 December, 2004
ABC Bearings plans aggressive export growth
Indian roller bearing manufacturer targeting automotive OEMs via NSK relationship.
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22 December, 2004
DaimlerChrysler recalls 2005 Sebring and Stratus for steering knuckle failures
Forging die issue leads to cracking, potential wheel bearing / corner unit separation.
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21 December, 2004
DaimlerChrysler issues long-awaited Dakota and Durango ball joint recall
593,000 trucks will get new ball joints; 400,000 more get extended warranty.
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20 December, 2004
China's Luoyang Bearing acquired by Yongcheng Coal
Troubled LYC bearing saved by acquisition and cash infusion from state-run Yongcheng.
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17 December, 2004
Nachi projects profits will reach 13-year high
Fiscal year just ended produced sales and profit results two years ahead of plan.
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16 December, 2004
SKF makes financial moves
Delisting from London exchange, adopting IFRS aim at transparency, equity access.
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15 December, 2004
Russian bearing factory workers on hunger strike
Yekaterinburg workers demand back pay, severance promised for hundreds laid off.
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14 December, 2004
United States repeals Antidumping Act of 1916
Historic move eliminates WTO sanction threats but keeps active disputes open.
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13 December, 2004
Pacamor Kubar expands into medical and dental handpiece bearings
Specialty manufacturer takes on Timken, NSK and others with new precision radials.
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10 December, 2004
WTO-approved CDSOA retaliatory tariffs include bearings
Trade dispute reaches critical stage; Japan lists all bearings on retaliatory tariff notice.
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9 December, 2004
ACL Group puts itself on the market
Key engine bearing manufacturer explores equity and funding options for growth.
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8 December, 2004
China previews additional 2005 bearing demand data
Information covers automotive-size and smaller commodity ball bearings.
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7 December, 2004
Timken announces 2004 CDSOA payout
$40 million payout pushes four-year total over $200 million.
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6 December, 2004
Ford recalls Freestar and Monterey vans for hub bearing failures
Improperly heat treated hubs can crack, forcing stop-sell order by Ford.
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3 December, 2004
Isuzu recalls trucks over hub bearing failures
Bearing units sourced from Mitsubishi Fuso implicated in lockups and fires.
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2 December, 2004
Genstar acquires Colfax Power Transmission
New Altra Industrial Motion business combines Colfax PT and Kilian bearing.
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1 December, 2004
NSK celebrates groundbreaking of Changshu Needle Bearing Plant
First needle bearing plant in China follows buyout of Torrington venture.
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30 November, 2004
U.S. bearing industry CDSOA claims outlined
Controversial program's fiscal 2004 payouts are scheduled for December.
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29 November, 2004
GGB inaugurates Martin bearing factory
State-of-the-art metal polymer bearing plant in Slovakia replaces two others.
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26 November, 2004
Wafangdian reports rapidly rising sales and profits
One of China's largest bearing manufacturers struggles to keep up with demand.
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25 November, 2004
Mitsubishi-Fuso recalls almost all trucks for wheel bearing failures
"Poison" business culture, coverups, defects, ISO certs lost, weigh on Fuso's future.
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24 November, 2004
Kioritz recalls pesticide sprayers for wheel-offs
Hub and bearing failures plague company's largest pressure-tank vehicles.
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23 November, 2004
Mazda recalls vans over front hub assembly failures
World market Mazda, Nissan, Mitsubishi light commercial vans involved.
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22 November, 2004
Durga Bearings marks 25th anniversary
Fast-growing distributor to open new locations, launches program with NSK.
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19 November, 2004
Timken named Lincoln's 2004 Industry of the Year
Third annual award notes Timken investment, employment growth, community involvement.
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18 November, 2004
U.S. Defense Stockpile seeks comment on bearing disposal
Your chance for input on the market impact of 82 million jewel bearings.
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17 November, 2004
SKF reveals plans for expansion in Bulgaria
Company tells Prime Minister it expects to spend additional $131 million there.
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16 November, 2004
Poland's FLT Bearing may be privatized
Boryszew group moves to acquire FLT, Impexmetal, and Izolacja Jarocin.
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15 November, 2004
SKF India reports third quarter 2004 results, expansion plans
Aggressive sales and market share goals already in hand, auto industry targeted.
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12 November, 2004
Kaman announces third quarter 2004 results
Losses in aerospace operations offset bearing and industrial gains.
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11 November, 2004
China Henan Special Steel plans IPO
Offering by auto bearing and spring maker clouded by slowing Chinese auto industry.
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10 November, 2004
Minebea forecasts profit drop even as current results improve
Good first half results will be reversed by second half operational and cost issues.
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9 November, 2004
Federal-Mogul St. Johns plant will stay open
Union accepts cuts in new four-year contract following similar Greenville situation.
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8 November, 2004
INA wants longer hours for workers in Germany
Workweek of 38 to 40 hours in exchange for employment and investment commitments.
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5 November, 2004
SKF opens Industrial Services Center in Moscow
Eastern Europe's largest bearing market gets attention from world's largest bearing manufacturer.
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4 November, 2004
INA/FAG compromises on Eltmann bearing factory shutdown
Some production shifting to eastern Europe, but plant will stay open through 2008.
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3 November, 2004
Kaydon reports third quarter 2004 results
Sales and earnings both up sharply as industrial economy improves; more acquisitions targeted.
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2 November, 2004
FAG and Shanggong restart Duerkopp Adler negotiations
On/off deal reportedly hindered by too-innovative financing structure.
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1 November, 2004
Mageba and Proceq merge
Leading Swiss bridge and building bearing manufactrers join forces.
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29 October, 2004
Timken responds to political attacks on its business practices
And we hope that on November 3, politically-motivated "business" reporters crawl back under their rocks.
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28 October, 2004
Bearing manufacturers face costs rising faster than prices
Margin pressures continue even as industrial markets experience strong recovery.
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27 October, 2004
Minebea and Nidec settle patent lawsuits over fluid dynamic bearing motors
Aggressive competitors replace litigation with wide-ranging cross-licensing agreements.
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26 October, 2004
Dover reorganizes into 6 divisions, 13 subsidiaries
Waukesha Bearing parent posts record 3Q results, starts 50th year with new structure.
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25 October, 2004
Timken reports third quarter 2004 results
Sales improve, year-ago loss reversed as demand strengthens worldwide.
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22 October, 2004
Recent U.S. Government contract awards for bearings
It's back! One of our most difficult features returns by popular demand.
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21 October, 2004
Applied Industrial reports first quarter 2005 results
Record earnings on strong sales reflect recovering industrial markets.
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20 October, 2004
Minebea becomes primary bearing supplier for Airbus A380
Company's three bearing divisions supplying over 850 per aircraft.
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19 October, 2004
SKF reports third quarter 2004 results
Sales and earnings beat expectations, reflect stronger markets.
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18 October, 2004
Moody's considers upgrades for Japanese bearing manufacturers
Senior debt of NSK, NTN and Koyo coming under review.
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15 October, 2004
NEI Bearing investing in manufacturing expansion
India's second-largest manufacturer targets both domestic and export sales growth.
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14 October, 2004
China estimates 2005 domestic bearing demand
Overall and relative demand picture gives insight into tightly-controlled market.
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13 October, 2004
Bearing industry upcoming shows and seminars
From the west coast of Florida to Shanghai with stops in between.
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12 October, 2004
Indian authorities raid counterfeit bearing operations
Simultaneous raids net thousands of counterfeit bearings, packaging, produce 11 arrests.
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11 October, 2004
NTN Mie plant begins production
New facility seeks to revolutionize flexible manufacturing in the bearing industry.
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8 October, 2004
India issues final dumping ruling on ball bearings
Duties rescinded on bearings from China, Poland, Russia and Romania.
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7 October, 2004
Timken divests Kilian Bearing to Genstar and management group
Nonstrategic specialty bearing business hurt by foreign competition gets fresh start.
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6 October, 2004
Emerson Bearing adds Latin America sales
Distributor goes bilingual, adds stocking warehouse in Miami.
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5 October, 2004
NTN targets hub units, needle bearings for sales growth
Projections through 2006 reflect growing importance of Asian transplant demand.
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4 October, 2004
FAG closing Eltmann plant, other cutbacks hit Germany
Union vows to fight as company cites high costs of doing business in Germany.
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1 October, 2004
Nidec will close Torrington plant
Customers shifting production away from North America to Asia.
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30 September, 2004
Bearing Man celebrates 30 years, opens new home office
South Africa's largest bearing distributor continues expanding, earns award.
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29 September, 2004
Nachi establishes joint venture in China for air conditioning bearings
Company says it must follow customers to China or lose their business.
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28 September, 2004
General Bearing management abandons latest buyout bid
Contentious process reflected shareholder belief the business is undervalued.
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27 September, 2004
FAG South Africa suspends top management
Seven top managers snared by allegations of inside deals with distributors.
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24 September, 2004
Tufnol in receivership
UK polymer bearing manufacturer falters after leveraged buyout.
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23 September, 2004
Federal-Mogul threatens St. Johns plant shutdown
UAW members reject $9.4 million concessions package paralleling Greenville.
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22 September, 2004
Dodge Bearings Marion facility receives Top 10 Best Plant award
Second-ever IndustryWeek award for a bearing manufacturer.
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21 September, 2004
Celebrity cruise ship out of service for bearing failure
Pod drive bearing failures continue as related $300 million suit proceeds.
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20 September, 2004
Bearing Conference 2004 report
Seventh annual conference in Bratislava draws attendees from every continent.
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17 September, 2004
Wanxiang acquires more bearing manufacturing equipment
Third order of integrated Swedish equipment for hub bearings due 2005.
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17 September, 2004
Nigerian businesses urge police to help curb counterfeits
Bearing and industrial manufacturers may invest in Nigeria if protected.
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16 September, 2004
Godiva Bearings acquired by management team
Buyout of UK bearing distributor leverages new market opportunities.
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15 September, 2004
Tsubaki Hoover expanding needle roller production
Plant in Poland drops tapers, targets doubling needle sales by 2006.
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14 September, 2004
Freudenberg-NOK abandons plastics to focus on seals
Thermoset business pitted Sealing Products against its customers.
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13 September, 2004
Timken and UAW sign new labor contract for Torrington workers
Historic Standard Plant's end of the line is now in sight.
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10 September, 2004
SKF progress continues with Bulgarian VMZ acquisition
Now ISO certified, SKF Bulgaria will target exports, double product line.
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9 September, 2004
Dover acquires US Synthetic
Oilfield downhole bearing maker now in Energy Products Group.
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8 September, 2004
Nachi dropped from Nikkei 225
Key measure refocused on consumer spending, away from industrial.
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7 September, 2004
New Oiles bearing plant comes online in Kadan
Czech Republic offers incentives, physical proximity to key customers.
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6 September, 2004
U.S. manufacturing continues rebound
July outpaces June; August may signal slowdown from higher costs.
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3 September, 2004
General Motors and Ford announce production cutbacks
Soft auto demand offsets industrial improvement for bearing makers.
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2 September, 2004
WTO rules U.S. now open to sanctions over CDSOA / Byrd Amendment
Massive retaliatory tariffs possible, likely including bearings.
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1 September, 2004
Federal-Mogul divests Large Bearings to South African buyers
Former Glacier operations are plain bearing market leaders in South Africa.
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31 August, 2004
Kinex reports first half 2004 results
Sales drop in line with weaker exports, as profits improve slightly.
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30 August, 2004
Minebea will expand aerospace bearing production
Company seeks to extend its dominant market share with new materials.
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27 August, 2004
Bosansko Grahovo petitions to rescind bearing factory privatization sale
Western Bosnia Herzegovina municipality says new owners violated every purchase covenant.
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26 August, 2004
NTN-BCA closes Greensburg plant
Foreign competition, sluggish economy doomed former BCA ball bearing plant.
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25 August, 2004
Kaydon reports second quarter 2004 results
Bearing division results improve strongly; 9-year-old lawsuit dropped.
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24 August, 2004
SKF Brazil sales jump 10% in 2004
Stronger domestic demand and local exports fuel growth spurt.
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23 August, 2004
NN reports second quarter 2004 operating results
Full effects of multiple acquisitions, performance initiatives being felt.
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20 August, 2004
INA/FAG Bearings launches China manufacturing expansion program
Multi-phase plan for million-square-foot manufacturing in Taicang by 2010.
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19 August, 2004
Indian state considers bearing business zone
Uneven enforcement, confusing tax structures cited by bearing industry association.
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18 August, 2004
Timken acquires SES Technical Group
Move highlights bearing manufacturers' new focus on value-added services.
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17 August, 2004
Taiwan bearing exports grow 8% so far in 2004
Key export markets include U.S., China, Japan, Thailand, Germany.
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16 August, 2004
Ceradyne acquiring Wacker / ESK Ceramics
Move merges Ceradyne with primary vendor, diversifies markets.
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13 August, 2004
Kian Ho reports first half 2004 results
Sales and profits both up strongly over 2003.
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12 August, 2004
NJ Transit trains replacing journal boxes
2,200 bearing journal boxes will be replaced to prevent axle failures.
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12 August, 2004
Bearing failure causes train derailment
Hot box detectors fail to spot overheated journal before axle shears.
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11 August, 2004
Federal-Mogul T&N operations face pension shortfall
40,000 workers threatened by UK's largest underfunded pension plan shutdown.
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10 August, 2004
SKF Bearings India renamed SKF India
New name reflects focus on a wide variety of offerings beyond bearings.
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9 August, 2004
Koyo building $30 million plant near Dallas
Now capacity limited, new Koyo facility needed to supply new Toyota plant.
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6 August, 2004
India and Thailand reset bearing tariffs
Local content clarified on the way toward eliminating tariffs by 2006.
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5 August, 2004
NTN in Chinese joint venture with Changzhou Guangyang
Business initially targets China's automakers, then export markets.
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4 August, 2004
Timken closing Tryon peak ring mill operation
Hot-forming near net cones from tubing proves uncompetitive.
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3 August, 2004
Federal-Mogul CEO resigns, former CEO returns
McClure joins ArvinMeritor, Miller rejoins for third stint as interim CEO.
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3 August, 2004
SKF Linearsysteme opens new headquarters
Manufacturing, research, support staff combined in one Schweinfurt location.
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2 August, 2004
Timken and Steelworkers open Canton plant negotiations
Separate bearing and steel bargaining units a likely outcome.
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28 July, 2004
Federal-Mogul reports second quarter 2004 results
Sales improve, profits squeezed as F-M prepares to emerge from bankruptcy.
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27 July, 2004
World Trade Organization receives U.S. progress reports
U.S. lags on several disputes involving the bearing industry.
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26 July, 2004
Timken reports second quarter 2004 results
Record sales reflect Torrington integration, overall stronger sales.
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23 July, 2004
NRB reports fiscal year 2004 financial results
Profits rise almost 60% on 20% sales improvement.
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22 July, 2004
EnPro receives $118 million asbestos insurance settlement
Equitas settles liability dating to old Garlock Bearing and Anchor Packing products.
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21 July, 2004
Ford recalls 47,000 cars for bearing and axle failures
Multiple wheel-offs force recall more than a year after problem surfaces.
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20 July, 2004
Cypress Group acquiring Dana's Automotive Aftermarket Group
Bearing manufacturing divested, but not Clevite marketing and distribution.
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19 July, 2004
General Bearing ups management buyout offer by 14%
Shareholders resisted original offer, claiming it undervalued the business.
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15 July, 2004
More counterfeit bearings seized in India
SKF proactively monitors sales patterns to identify problem areas.
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14 July, 2004
Caterpillar acquires MG Rover replacement parts business
Logistics unit takes over sourcing and sale of parts worldwide.
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13 July, 2004
SKF reports second quarter 2004 results
Sales, margins and profits all improve sooner than expected.
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12 July, 2004
Shanggong steps away from INA/FAG acquisition
Price of Duerkopp Adler reportedly being renegotiated.
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8 July, 2004
Timken Altavista manager charged in embezzling scheme
Federal grand jury indicts manager in alleged six-year fraud.
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7 July, 2004
Taiwan bearing exports grow 19%
Annual growth in exports of industrial equipment could hit 25% by 2005.
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6 July, 2004
NSK predicts strong growth in Malaysia
Increasingly competitive market is also growing strongly.
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5 July, 2004
Timken India targets domestic automakers
Rail and 2-wheeler markets continue key roles in growth initiative.
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2 July, 2004
U.S. manufacturing continues upswing
June index posts eighth month of strong continuing expansion.
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1 July, 2004
Nissan Diesel recalls trucks for wheel bearing failures
Bearing failures involving 2001-2004 commercial trucks can lead to fires.
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30 June, 2004
Former Bearing Man employee charged with corporate espionage
Allegedly attempted to traffic in stolen NTN trade secrets.
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29 June, 2004
SKF Bearings India reports first quarter results
Market leader's sales and profits both improve dramatically over 2003.
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28 June, 2004
Federal-Mogul Greenville bearing plant will stay open
Five month saga ends in new contract saving 310 jobs.
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25 June, 2004
PSL expands bearing manufacturing capacity
Slovak manufacturer adds capacity and employees as export market demand grows.
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24 June, 2004
Jamaica Bearings wins defense supply award
Fourth consecutive award goes to government's largest bearing distributor supplier.
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23 June, 2004
Goldman Sachs raises 2004 outlook for NSK
Bearing manufacturer hears rare criticism its forecasts are overly conservative.
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22 June, 2004
NN names Nicola Trombetti to head European operations
Dario Galetti departs abruptly.
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21 June, 2004
Timken and USWA meet to discuss Canton-area bearing plant closings
Effects bargaining may lead to reopening contract, realigning bargaining unit.
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18 June, 2004
U.S. industrial production continues upswing
Highest level since 1998 signals recovery opportunity for the bearing industry.
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17 June, 2004
Mitsubishi executives arrested
Coverup of failures involving Fuso wheel bearing hubs and clutch covers led to deaths.
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16 June, 2004
CalPERS names Emerson Electric to 2004 Focus List
Pension fund pushes for corporate governance and finance reforms.
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15 June, 2004
Glacier Tribometal Slovakia reports fiscal 2003 results
Sales rise but exchange rates and inefficiencies push losses to 2.3% of sales.
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15 June, 2004
Minebea may shift bearing production from Germany to Slovakia
First eastern European operation may lead to others as customers relocate.
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15 June, 2004
Kinex reports fiscal 2003 operating results
Slovak bearing manufacturer sees sales and profits hit by weak dollar.
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14 June, 2004
GGB Bearings opens location in India
New operation targets OEM automotive and industrial markets.
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10 June, 2004
Nippon Kagaku Yakin reports fiscal 2004 results
Plain bearing manufacturer's slim 2003 profit reverses to massive loss.
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9 June, 2004
SKF closes bearing factory in Thomery, France
Electrical Division ball bearing plant victim of high costs, low productivity.
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8 June, 2004
article removed pending consideration
article removed pending consideration.
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7 June, 2004
Timken lands key new orders
Company strengthens market presence across rail, industrial and aerospace.
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3 June, 2004
U.S. manufacturing activity and employment continue to surge
May indexes hit 1-year and 31-year highs; UK and Eurozone indexes follow.
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2 June, 2004
NTN aggressively expands hydrodynamic bearing production in Thailand
Production must quintuple by 2006 to keep pace with demand.
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1 June, 2004
SNR Roulements loses effort to wrest SNR.com
Multi-pronged attack against current owners fails on all fronts.
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1 June, 2004
NSK reports year-end operating results
Japan's leading bearing manufacturer returns to profitability on flat sales.
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31 May, 2004
US Bearings and Drives acquires Bearings & Drives
BC Bearing Group division expands into north-central U.S.
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26 May, 2004
INA and FAG combine U.K. operations, appoint new heads
Long-delayed integration leverages marketplace strengths, product line depth.
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26 May, 2004
New Hampshire Ball Bearings honored by U.S. EPA
Another environmental leadership award marks turnaround for plant sitting on EPA Superfund site.
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25 May, 2004
Timken acquires Alcor Engine
Company moves to add value-added technology and services less dependent on bearings.
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24 May, 2004
Japanese bearing manufacturer Hephaist Seiko plans June IPO
Jasdaq listing is the first recent IPO for any major bearing company.
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21 May, 2004
Federal-Mogul reorganization plan approved by bankruptcy court
Debtors' vote of approval would pave the way for exiting Chapter 11.
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21 May, 2004
Federal-Mogul reports first quarter 2004 results
Loss narrows but cost and pricing pressures hinder outlook despite sales gains.
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20 May, 2004
Bearing Man reports 2004 first quarter results
Leading South African bearing distributor sees profits drop on flat sales.
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19 May, 2004
INA Bearing opens R&D center in South Korea
Schaeffler Group targets Korean auto industry with expanded INA, FAG and LuK operations.
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18 May, 2004
Oiles America plans Concord bearing plant expansion
Second expansion for Tier 1 auto supplier will bring Concord employment over 100.
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17 May, 2004
Timken may close three Canton-area bearing plants
1,300 workers face layoffs in latest consolidation of underperforming facilities.
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11 May, 2004
General Bearing management revives buyout plan
Joins others citing high costs outweighing advantages of being publicly traded.
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10 May, 2004
Radioactive scrap forces Timken Faircrest mill shutdown
Cesium-137 contamination poses a threat to profits but not people.
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7 May, 2004
Seven Mitsubishi executives indicted
Charges filed in Fuso hub bearing failure coverup and wheel-off death.
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6 May, 2004
Illicit nuclear programs depend upon precision bearings
Netherlands pursues centrifuge bearing smuggler in nuclear weapons case.
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5 May, 2004
SKF will acquire Willy Vogel AG
SKF gains leading market position in lubrication systems.
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4 May, 2004
Kaman reports first quarter 2004 results
Aerospace business drags down industrial and other strengthening segments.
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3 May, 2004
Kaydon reports first quarter 2004 results
Sales and profits up sharply, Appeals Court rules in Kaydon's favor.
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28 April, 2004
Timken expanding Bangalore R&D facility
Second-largest R&D center grows to leverage Indian and Asian market opportunities.
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27 April, 2004
NSK Americas avoids labor strike in Ann Arbor
Both sides give concessions to address high-cost U.S. bearing manufacturing.
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26 April, 2004
Minebea reveals new hydrodynamic bearings
Design and manufacturing breakthroughs address production and cost constraints.
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22 April, 2004
Timken reports first quarter 2004 operating results
Sales rise strongly on addition of Torrington while net nearly triples.
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21 April, 2004
SKF reports first quarter 2004 operating results
Profits up but fail to keep pace with higher-than-expected sales.
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20 April, 2004
NSK continues opening new operations in China
Automotive bearings, tapered bearings, components all targets of aggressive growth strategy.
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19 April, 2004
Miba expanding McConnelsville engine bearing plant
Local agency obtains $2 million loan to help heavywall plant expand.
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16 April, 2004
Sydney commuter train bearing failures investigated
Continuing failures and other problems lead to probes, censure of Transport Minister.
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15 April, 2004
NTN will boost capex by 60% through 2007
Investments focus on export markets and CV joint production.
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14 April, 2004
Humvee ball joint failure problem resolved
78,000 Humvees worldwide to receive forged units replacing stamped steel joints.
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13 April, 2004
Schatz Bearing continues, but with refocused operations
Old bearing industry name offers newest developments in specialty bearings.
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12 April, 2004
RBC credit ratings lowered by Moody's and S&P
Debt load and profitability issues cited by ratings agencies.
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9 April, 2004
Winners named in manus plastic bearing design contest
Bearing design competition featured igus bearings.
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8 April, 2004
Timken pre-announces first quarter 2004 earnings rise
Bearing business improvements aided by steel volume and scrap surcharges.
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7 April, 2004
Federal-Mogul gaining market share with aluminum engine bearings
OEM applications and aftermarket demand both increasing rapidly.
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6 April, 2004
USWA fails in bid to unionize Timken Randleman plant
First organizing effort since Torrington acquisition fails in right-to-work state.
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5 April, 2004
U.S. manufacturing gains strength
U.S. leads, but manufacturing recovery seems underway worldwide.
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2 April, 2004
SKF India acquiring Vibration Engineers
Company leverages dominant market position in move to add value-added services.
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1 April, 2004
Glacier Garlock Bearings building new factory in Slovakia
New facility consolidates operations from Scotland and Slovakia.
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31 March, 2004
Kaydon reports fourth quarter and fiscal year 2003 operating results
Sales and profits both up over 2002 as bearing business unit reorganization continues.
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30 March, 2004
NSK Franklin adds wheel bearing lines, gets tax break
New Chevrolet and Subaru models drive increased hub assembly production.
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29 March, 2004
Fuso wheel hub failures prompt recall campaign
Years-long coverup alleged, criminal charges possible in wheel-off death.
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26 March, 2004
NTN launches FA series tapered bearings
Proprietary heat treat produces fine austenite grain, 40% smaller bearings.
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25 March, 2004
WTO investigating U.S. dumping calculations
Bearings among 31 wrong dumping findings, EC charges.
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24 March, 2004
Tekhnik acquires Podshipnik Bearing
Buyout gives access to fast-growing Uzbekistan auto industry.
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23 March, 2004
RBC reports third quarter 2004 results
Sales up, profits slide; Timken aircraft bearing business cost $7.4 million.
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22 March, 2004
Timken named to Fortune 500
Torrington acquisition boosts company back to first appearance since 1995.
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19 March, 2004
Bearing Inspection signs five-year Delta contract
Aerospace bearing reconditioner grows with Delta TechOps success.
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18 March, 2004
SKF India reports operating results for 2003
Record sales continue to drive strong earnings.
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17 March, 2004
ZKL offers counterfeit bearing identification service
Czech bearingmaker targets production by former licensees.
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16 March, 2004
GM halts full-size truck sales to check bearing failures
Faulty oil pumps will starve overdrive bearings.
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15 March, 2004
Federal-Mogul leases distribution center location in Smyrna
Nashville-area location set up in wake of Smithville DC fire.
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12 March, 2004
NSK forecasts 62% profit increase for 2003
Demand for automotive and industrial bearings offsets other down sectors.
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10 March, 2004
Federal-Mogul suffers fire, ammonia spill losses
Blaze destroys Smithville DC, ammonia spill shuts down Blacksburg bearing plant.
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9 March, 2004
Bearing Conference 2004 coming in May
International four-day conference moves to Bratislava this year.
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8 March, 2004
Kennametal acquires Conforma Clad
Acquisition opens leading oilfield bearing manufacturer to international markets.
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5 March, 2004
SKF introduces new tool for handling large bearings
BHT limits risk of injury, allows safe handling of heated bearings.
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4 March, 2004
Schaeffler Group reorganizes FAG and INA industrial operations
Organization and personnel changes are designed to leverage mutual strengths.
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3 March, 2004
NTN-Bower expanding Macomb facility
Company moves to diversify from bearings in 290,000 square foot expansion.
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2 March, 2004
CoLinx to take over Timken warehousing in Toronto and Reno
Move involves Torrington and Fafnir bearings not included in earlier realignments.
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1 March, 2004
Strike ends at RBC Nice Ball Bearings
Walkout had closed 102-year-old bearing manufacturer for three months.
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26 February, 2004
NSK opens Tech Center in China
Kunshan facility to focus on the unique requirements of Chinese market products.
click here
25 February, 2004
Indian authorities conduct widespread counterfeit bearing raids
Inventory seizures and jail terms meted out as India steps up counterfeiting offensive.
click here
25 February, 2004
SKF Brazil cancels traditional Carnival vacation
Continued strong bearing sales risked order backlogs at Cajamar plant.
click here
24 February, 2004
Renault Samsung recalls SM3 over rear wheel bearing installation
Entire early production run risks rear wheel-off failure.
click here
23 February, 2004
Kingsbury acquires Messinger Bearings
Philadelphia-area bearing companies combine complementary product lines.
click here
18 February, 2004
SKF supplies new hub unit for Dodge Durango
First application of X-Tracker asymmetric ball bearing hub unit.
click here
17 February, 2004
Endgame for Covisint
Compuware acquires remaining assets for a "small cash transaction."
click here
16 February, 2004
Timken receives Torrington CDSOA payout for 2003
Payout shared with Ingersoll-Rand nets Timken $7.7 million.
click here
12 February, 2004
SKF Italy reports 2003 results
Currency effects offset weak internal market.
click here
11 February, 2004
QA1 to acquire Carrera Shocks
Rod ends, spherical bearings join big names in racing shocks under one roof.
click here
10 February, 2004
Sapporo Precision opens U.S. office
Kitanihon Seiki division brings first direct sales of SPB and EZO brand bearings.
click here
9 February, 2004
SKF Brazil expands bearing production and exports
Cajamar joins select group of global-supply certified plants.
click here
5 February, 2004
Michael Burns named CEO of Dana Corp.
Head of GM Europe takes CEO position left open since Magliochetti's death.
click here
5 February, 2004
Power Transmission Distributors Association names 2004 leadership
Association represents 400+ members with 3,200 locations in 15 countries.
click here
4 February, 2004
India reduces import duties to help domestic bearing manufacturers
52100 steel duties cut by half to aid competition with East Asian bearings.
click here
3 February, 2004
Federal-Mogul bankruptcy judge declines recusal
Creditors charge bias, judge says recusal would set cases back years.
click here
2 February, 2004
Timken names Jacqueline Dedo as President - Automotive
Sales-oriented exec fills post open since Kimmerling departure last fall.
click here
29 January, 2004
SKF reports fourth quarter and fiscal 2003 results
Sales and profits hurt by currency effects as margins improve.
click here
28 January, 2004
Timken reports fourth quarter and fiscal 2003 results
Torrington acquisition effects continue to drive operations.
click here
26 January, 2004
Thomas McKown named to head NN Asia
NN shows renewed focus on developing an Asian manufacturing presence.
click here
23 January, 2004
Timken set to receive $44 million CDSOA payout for Torrington
$35 million rebate to Ingersoll-Rand nets Timken $8.75 million.
click here
22 January, 2004
Nachi reports 2003 financial results, forecasts 2004
Strong bearing sales and cost-cutting moves drive profit gains.
click here
21 January, 2004
FAG definitively abandons SNFA acquisition
Two-year takeover saga ends as FAG rejects European Commission restrictions.
click here
20 January, 2004
Federal-Mogul and Honeywell end Bendix acquisition talks
Internal and external forces doom controversial asbestos claim pooling scheme.
click here
19 January, 2004
Bearing failures behind airplane, helicopter Airworthiness Directives
Eurocopter, GROB, Raytheon and Sikorsky aircraft targets of FAA action.
click here
15 January, 2004
George Dettloff named President of SKF Automotive North America
Continues as President of CR Americas but relocates to SKF office in Michigan.
click here
14 January, 2004
Daido will boost bearing production in Japan and Thailand
Growth in demand for low-emission truck engines spurs expansion plans.
click here
13 January, 2004
SKF cuts Ovako workforce by 8%
Troubled specialty steelmaking arm continues to be hit by cutbacks and restructuring.
click here
12 January, 2004
Jamaica Bearings acquires ERIKS Aerospace
Leading aerospace bearing distributor adds seals and kitting capabilities.
click here
9 January, 2004
Erie Bearings wins Best Place to Work award
Company scores second consecutive position on Pennsylvania roster.
click here
8 January, 2004
FAG acquires full ownership of rail bearing joint venture in China
Venture with Xibei holds 20% share of fastest-growing market after two years.
click here
7 January, 2004
Schaeffler Group opens new Automotive Tech Center in Michigan
New Troy facility unites INA, FAG and LuK product development efforts.
click here
6 January, 2004
Koyo launches new precision bearing line
Targets recovering market for precision semiconductor manufacturing equipment.
click here
5 January, 2004
NTN and Luoyang join in Chinese manufacturing ventures
Companies investing $145 million to target growing Chinese bearing markets.
click here
2 January, 2004
RBC completes Timken Standard Plant acquisition
Company creates new division umbrella for expanded aerospace product line.
click here
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- by Bruce A. Carr
from individual research,
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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