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The eBearing News
October 12, 2005
SNR Turns Over Ball Production to NN
copyright © 2005 eBearing Inc.
SNR Roulements (France) will no longer manufacture its own high-precision bearing balls.
NN Inc. (USA; NASDAQ: NNBR) has reached an agreement to acquire all of
SNR’s precision ball manufacturing equipment, located at SNR's facility in Annecy, France,
for approximately €5 million (USD $6 million).
As part of the arrangement, NN receives a five-year guaranteed annual purchase agreement from SNR
for an additional $9 million of precision balls, or $45 million over the term.
NN said it currently supplies SNR with approximately $9 million in bearing balls annually; the
supply arrangement thus doubles NN's sales to SNR.
The SNR ball production equipment will be moved from Annecy to NN's European facilities. Balls
supplied to SNR under the new arrangement will come from both the old SNR equipment and
existing NN equipment.
SNR is a global bearing manufacturer and supplier
to the automotive, industrial and aerospace industries
NN is a key supplier of rolling elements, retainers and seals to the bearing industry worldwide.
Acquiring SNR's equipment and business greatly enhances NN's European market penetration.
Rock Baty, NN's Chairman and CEO, said: "We are pleased this outsourcing transaction will allow
us to further serve SNR. Additionally, the purchase agreement is consistent with our business
strategy of enhancing our existing customer relationships by adding additional value through
our component manufacturing and service competencies."
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Bruce Carr edited this content.
Copyrighted material; unauthorized reproduction prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2011, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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