SPZ Forms Joint Venture in China

SPZ Forms Joint Venture in China SPZ Group (Russian Federation) has formed a joint venture company with Zhangjiagang AAA Bearing Co. Ltd. (Jiangsu Province, China). The new company, Zhangjiagang Sibeirui Bearing Co. Ltd. (China) completed its 20,000 square meter manufacturing plant in Jiangsu. The facility recently came online, producing self-aligning ball bearings. SPZ claims it is the first joint venture bearing manufacturing facility in China to involve a Russian company. Otherwise known as the Samara Bearing Plants, SPZ was formed by combining several former state-run bearing plants -- Samara Bearing Plant 4 (GPZ-4), Samara Bearing Plant 9 (GPZ-9), Spetzprodukt SPZ-Group, Stal-Invest, and SZ KRS. The last three are, respectively, a sales company, an R&D group for small-lot-bearing production, and a lathe production and repair facility, respectively. Overall, SPZ Group employs more than 7,000 people across its facilities in Russia. In total, bearing production is 40 million sets per year. SPZ's production capacity in Russia encompasses radial ball and roller bearings, angular contact ball and roller bearings, thrust ball and roller bearings, spherical roller bearings, and various rail bearings. Sizes produced in Russia are 19mm to 4500mm OD. Zhangjiagang AAA manufactures a similar lineup of bearings as SPZ Group, from its plant in Jiangsu which employs more than 1,000 workers. The new Zhangjiagang Sibeirui plant is 65% owned by SPZ and 35% owned by Zhangjiagang AAA. While it will be run day-to-day by the Chinese company, SPZ will provide ongoing technical support and engineering expertise.