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Social and
Environmental Report |
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News Release |
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News Release
April 9,2002
NSK Ltd.
Public Relations Department
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NSK and Timken form joint venture to manufacture tapered roller bearings in China |
NSK Ltd. has reached an agreement with The Timken Company (President & COO, James W. Griffith) to form a joint venture, building a plant near Shanghai, China to manufacture tapered roller bearings.
Details of Joint Venture:
| Company name |
Timken-NSK Bearings (Suzhou) Co., Ltd. |
| Plant location |
Suzhou, Jiangsu, China |
| Capital |
US$16 million |
| Ownership |
NSK 50%, Timken 50% |
| Investment |
US$40 million |
| Product |
Tapered roller bearings |
| Production volume |
Approximately 15 million sets annually (1st phase) |
| Start of production |
In early 2004 |
Tapered roller bearings are used frequently in the automotive application such as transmission and wheels.
As vehicle manufacturers in the world are expanding their production in China and other Asian countries, the demand for tapered roller bearings in this area will increase rapidly in the near future.
Now most of vehicle manufacturers are seeking bearing suppliers who can provide bearings stably at an attractive price level everywhere in the world.
This joint venture with Timken, the NO.1 manufacturer of tapered roller bearings in the world, will help both companies to provide customers with superior service in the area of- quality, cost and delivery, blending both companies' manufacturing know-how as well as technology.
NSK currently holds the number one industry position in Japan in bearings. NSK employs more than 23,000 people, operates in 26 countries and has 51 manufacturing plants in 14 countries. NSK has two bearing plants in Kunshan and Anshun, and this JV will be the 3rd plant in China. NSK recorded 2001 sales of U.S.$4.3 billion.
The Timken Company (NYSE : TKR) (http://www.timken.com) is a leading international manufacture of highly engineered bearings, alloy and specialty steels and components, as well as a provider of related products and services. With operations in 24 countries, the company employs about 18,700 people worldwide and recorded 2001 sales of U.S.$2.4 billion. |
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