ACQUISITION: NSK to buy stake in Chinese bearing maker

TOKYO – NSK Ltd. announced that it has decided to acquire a 10% stake in Gongzhuling Bearing Co. headquartered in Jilin Province, China. NSK has agreed to purchase new shares issued by Gongzhuling through a third party allotment scheduled...

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TOKYO – NSK Ltd. announced that it has decided to acquire a 10% stake in Gongzhuling Bearing Co. headquartered in Jilin Province, China. NSK has agreed to purchase new shares issued by Gongzhuling through a third party allotment scheduled to close in June 2012.

NSK is the third largest bearing manufacturer in the world. Having a leading global share in automotive bearings and the second largest share in steering systems, NSK provides a wide range of automotive components to customers globally. The company has developed a wide range of bearings and supplied them around the world, making significant contributions to the development of industry and advancements in machinery.

NSK Canada (ca.NSK.com) is known in the mineral industry as a leading supplier of roller bearings, ball bearings and linear motion components.

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