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Social and
Environmental Report |
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News Release |
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News Release
April 24, 2003
NSK Ltd.
Public Relations Department
NSK Announces Purchase of NTN's Ball Screw Manufacturing and Testing Equipment
NSK Ltd. ("NSK") announced today that they have reached an agreement with NTN Corporation ("NTN") to acquire the manufacturing and testing equipment related to the ball screw product from NTN.
| Details |
| Date of Agreement |
April 24, 2003 |
| Product |
Ball Screw
(However, this excludes ball screw used in NTN's actuator for automotive use. Furthermore, existing NTN capital and technical affiliations and commercial license with other entities regarding this product are also excluded.) |
| Method of Transfer |
Physical transfer of manufacturing and testing equipment |
| Brand |
NSK Brand |
| Sales Channel |
In principle, NSK sales channel will be used. |
| Date of Physical Transfer |
To be completed by December 31, 2003 |
This is not the first commercial affiliation between these two companies. NSK and NTN agreed to a business tie-up in October 1999 to promote cost competitiveness and business efficiency in the specific OEM bearing supply business. In addition, both companies have agreed to share certain proprietary technologies. This agreement is part of NSK's effort to further consolidate its global market position in this product area.
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