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Date: 2015-08-19

NRB and GBC reached a a strategic cooperation on needle roller bearings

CHANGZHOU NRB CORPORATION (hereinafter referred to as NRB) announced on August 14 that the company signed “Strategic Cooperation Framework Agreement on Needle Roller Bearing” with General Bearing Corporation (hereinafter referred to as GBC) on August 11, 2015 of American local time. The agreement constitutes the strategic bilateral willingness to cooperate agreement, the guidance document for future long=term cooperation between the two sides and the important basis for the relevant specific contracts signed by the two sides.

According to the announcement, GBC, a owned independent subsidiary of SKF, manages the main business of the development, production and sales of tapered roller bearings and ball bearings, providing supporting services for the many global well-known vehicle and component enterprises.

The two sides achieve the goal through the combination of their both resources based on maintaining the relative independence in the form of agreement. The strategic cooperation is divided into two stages: Stage 1: strategic business cooperation. According to the current customer situation, the two sides is to achieve the sales target of USD 25 million by 2020. Stage 2: to establish a manufacturing joint venture.in the basis of the approval of decision-makers.

NRB said that the strategic cooperation with GBC is conducive to the rapid development and enhancement of the company's needle roller bearing business, to the increase of the company’s global development pace and to the promotion of the company’s sustainable profitable growth. Meanwhile, it will also play a positive role in the company's technology upgrade, management innovation and personnel training.

 


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