PEER Opens Tapered Plant in Thailand

PEER Opens Tapered Plant in Thailand PEER Bearing Company (USA) announced it has opened its new tapered roller bearing plant in Thailand, PEER Bearing Thailand Co. Ltd. The facility will officially be opened on December 5, 2007. The plant in Thailand adds production capacity to its existing tapered roller bearing plant in China's Changshan Province, near Shanghai. PEER's President, Larry Spungen, said: "This exemplifies our efforts of continuous worldwide growth and demonstrates our commitment to become a world leader in sales of tapered roller bearings." Mr. Spungen also pointed out the production in Thailand will better insulate PEER from the impact of expected long-term appreciation in China's yuan. Chosen to coincide with Thai King Bhumibol Adulyadej's birthday, the December 5 opening will occur at 8:08AM, chosen to signify the good luck of the 8's. Peer Bearing is one of several Peer companies worldwide, including Peer Bearing, Peer Chain, Peer Inc. (plain bearings and bushings, a venture with NDC of Japan), and Peer Industries. The divisions manufacture products under a variety of brands, including Almute, Poal, Geoquartz, ZeroDrag, and others.