European Bearing Corp. (EBC, Russian Federation) revaled plans to invest more than USD $6 million at its Stepnogorsk Bearing Plant in Kazakhstan.

Founded in 2000, European Bearing Corp. has four plants acquired in the same privatization move: Moscow's legendary GPZ-1 (former Bearing Plant #1), another plant in Moscow dedicated to aircraft bearings, the former VPZ-15 bearing plant in Volzhsky, and the former SPZ-16 16th State Ball Bearing Plant in Stepnogorsk, Kazakhstan. The company recently finalized acquisition of the Aviation Bearings Plant, formerly known as GPZ-4 4th State Bearing Plant.

article: EBC finalizes Samara aviation bearing plant acquisition
EBC is Russia's largest bearing manufacturer, with 37% of the overall market. Its primary strengths derive from guaranteed, closed market sales -- including a 95% market share of Russia's railroad bearings and 98% of Russia's high-precision aerospace bearings.

Together, rail and precision aerospace accounted for approximately USD $163 million of EBC's 2005 sales of nearly $250 million.

As part of the former state-run Soviet arms supply network, Stepnogorsk had been the largest manufacturer of bearings for tanks, tractors and other heavy equipment.

Under EBC, Stepnogorsk has become the region's largest rail bearing manufacturer, producing 80% of the rail bearings used in CIS countries. Customers include Kazakh Tamir Zholy and other CIS entities.

Covering manufacturing floorspace of over 32 hectares (345,000 square feet), Stepnogorsk recently employed more than 2,100 people. Its yearly output of large cylindrical roller bearings approaches 3 million.

Prior to this current round of investment, EBC has invested more than $10 million to bring Stepnogorsk quality and production up to world-class standards.

Rail is one of the fastest growing market sectors in eastern Europe and Asia. The Chinese government, for example, recently announced plans to greatly expand and modernize its entire rail infrastructure and fleet of rolling stock. A massive building program will also bring rail access deep into rural China, where it now serves mainly the coastal and port areas.