NOTE Since this article appeared, KRW and its key investor BWK GmbH UnternehmensBeteiligungsGesellschaft, have contacted eBearing, denying any relationship with Rulmenti Barlad. Mr. Gunther Niemann, Managing Director of BWK, issued its Official Statement: There has been no transaction or intention of a transaction between Kugel- und Rollenlagerwerk GmbH (KRW), Leipzig, Germany and Rulmenti Barlad, Romania or any other company. Also, there have been no talks, discussions, etc. with Rulmenti Barlad about a transaction whatsoever. The BWK GmbH, Stuttgart, Germany holds a majority of KRW, Leipzig since October 2007. Mr. Rolf Binnemann, a founder of KRW, Leipzig, is still Managing Director and shareholder of KRW. We strongly regret all troubles that happened to the customers and vendors of KRW. Mr. Binnemann also contacted us directly, threatening legal action, stating: "Your publication damages our reputation and is not comprehensible for us. I request you to withdraw this article and to reconstruct the correctness of the Kugel- und Rollenlagerwerk Leipzig GmbH." We have no reason to doubt the vehement denials by KRW and BWK. The facts remain that Rulmenti Barlad made official filings, with detailed notes of the proposed acquisition, not only to shareholders but also to the Bucharest Stock Exchange, all of which are legally binding and public record. Similarly, Romanian banking authorities have recorded approval of a loan to Rulmenti Barlad for the specific purpose of acquiring ownership stake in KRW (see Rulmenti Barlad's BSE filing here). We have no objection to retracting this acquisition report per KRW's request, but it should be noted that in December 2007, we did in fact twice ask for comment from KRW, with no answer (it is always possible our request was never received or was considered unworthy of an answer). Similarly, it must be pointed out that reports of this acquisition have been circulating for almost a year, carried by over 200 other sources, primarily financial and banking publications which specialize in mining government and bank filings. However, as it stands, readers should consider the following report as RETRACTED per request of KRW and BWK.

SC Rulmenti SA Barlad (Romania, a division of Kombassan Holding, Turkey) said it has moved to acquire up to 60% ownership of Kugel und Rollenlagerwerk Leipzig (website), one of Germany's leading ball and roller bearing manufacturers.

Rulmenti Barlad's related filing to the Bucharest Stock Exchange is here: RBL110507
[3 pages in Romanian; PDF format]
Kugel und Rollenlagerwerk Leipzig manufactures a wide variety of KRW branded antifriction bearings, in sizes from 68mm through 1200mm OD.

Approximately €8 million (USD $11.6 million) to finance the acquisition was loaned by Banca Comerciala Romania, which also helped finance Rulmenti Barlad's recent acquisition of MGM Bearing.

Rulmenti Barlad is a subsidiary of Turkish industrial conglomerate Kombassan Holding, which acquired the company from the Romanian Privatization Agency in June 2000.

Kugel und Rollenlagerwerk, founded in 1934 as Deutsche Kugellagerfabrik GmbH (DKF brand), operated as DKF Wälzlagerwerk Leipzig from 1955 - 1990, was acquired by FAG in 1990, and finally spun off under its current name in 1993. Located in Leipzig, the plant today covers approximately 14,000 square meters.

Rulmenti Barlad recently acquired 51% of Romanian bearing manufacturer MGM, which is now renamed New MGM Manufacturer Private Limited Company. article: Rulmenti Barlad acquires MGM