SNR Workers Protest NTN Takeover

Over 1,000 workers from SNR Roulement's Annecy headquarters and operations walked out yesterday afternoon, protesting NTN's planned takeover of the Renault division and lack of communication with employees by both companies. Parading the streets of Annecy, production workers, engineers, administrators and managers made it clear they are concerned about the company's likely fate under NTN Corp. (Japan) if the acquisition goes through. Automaker Renault, facing difficult times, is restructuring and reorienting many of its far-flung business operations. SNR is one of the businesses being restructured; NTN walked away from a mid-2005 bid to acquire SNR, while in October 2005, SNR divested its ball production to NN Inc. (USA). Now that NTN has reestablished its intent and effort to acquire SNR, workers are increasingly worried that the deal may be nearing a conclusion without their knowledge. Annecy is SNR's headquarters, and home to the majority of workers. The company also has two main warehouse and logistics centers; the first and largest is in Cran Gevrier, on the outskirts of Annecy, the other is in Saint Vulbas, outside Lyon. SNR workers have said that their strong trade unions are against any sale to NTN, preferring to stay under a French company with its mandated social safety net. Renault being one of the country's crown jewels of manufacturing, many said they believe their future would be better staying under Renault with the attendant perks and protections. SNR (Societe Nouvelle de Roulements, or the New Bearing Company) is a global bearing manufacturer and supplier to the automotive, industrial and aerospace industries. The company has five plants in France: Annecy, the headquarters; Argonay (high precision bearings); Meythet (roller bearings); Seynod (rolling elements, ball bearings, clutch release bearings, thrust bearings); Ales (ball bearings, automotive wheel hub bearings. And five plants in other countries: Bielefeld, Germany (linear guides); Curitiba, Brazil (ball bearings, tapered roller bearings); Turin, Italy (spherical roller bearings); Sibiu, Romania (standard ball and roller bearings); Atlanta, Georgia, USA (aerospace bearing maintenance). Neither Renault nor NTN have commented about the potential acquisition.