KBR Acquires Hanwha Korea Ball Production

Korea Ball & Roller Co. Ltd. (KBR, South Korea [ website ] has reportedly acquired the steel bearing ball manufacturing resources of Hanwha Group (South Korea). Founded in 1964 as a joint venture with FAG Korea, the facility later came under FAG Hanwha Bearings Corp. in 1983. KBR said it will continue to supply rolling elements to its existing customer base -- INA/FAG Korea, GM Daewoo, Delphi Korea, GKN Korea, Hyundai Korea, Renault Korea, Samsung and TAIHO, among others. Over the longer term, President and CEO, Jong Cheol Lee, indicated the organization has plans to extend sales into other applications, and supply an increasing number of export customers. The company will reportedly file for public listing on the Bombay Stock Exchange in the next five years.