NRB Bearings Ltd. (India; BSE Smallcap: 5251R9N7 announced it has reached agreement with hourly workers, ending a two-month strike at its Hyderabad bearing plant.

Founded in 1965, NRB manufactures needle roller, thrust and cylindrical roller bearings.

Currently, NRB's bearing production is approximately 80% for automotive and light truck OEMs; only 20% targets industrial, textile, rail and replacement markets.

NRB said it signed a new three-year agreement with its workers, providing for unspecified higher wages if they achieve, "mutually agreed productivity norms."

Strikes are a common bargaining tool in India. NRB workers staged a similar walkout in 2006 when the previous contract expired.

In 2007, NRB was named to the Forbes magazine list, "Asia's 200 Best Under a Billion," after evaluating more than 22,500 publicly traded companies across 14 Asian and Pacific rim countries.