Date: 2013-08-01

NTN To Form Chinese Joint Venture For Automotive Bearings

OSAKA (Nikkei)--NTN Corp.said Tuesday (October 12) it will set up a manufacturing joint venture with a Chinese bearing maker in February, investing 93.5 million dollars, or about 7.7 billion yen in the new company.

Ownership of the venture, to be located in Luoyang in central Henan Province, will be split 50-50 between NTN and Luoyang LYC Bearing Co.



NTN will make its hub bearings at a Chinese joint venture. Production is scheduled to begin in October 2012. The factory will make hub bearings and needle roller bearings for use in the auto industry, aiming for 7-8 billion yen in annual sales in fiscal 2015. It is expected to employ about 200 workers to start.

Osaka-based NTN will count the venture as a consolidated subsidiary.

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