NSK acquires NTN's ball screw business

NSK Ltd. (Japan) announced it is acquiring the ball screw business from NTN Corporation (Japan). Precision ball screws are used in applications such as machine tools, plastic and rubber injection molding equipment, and automotive applications. According sources contacted by eBearing, NTN has long wanted out of the ball screw business -- a money-losing operation with only minimal market presence. NSK, a leading ball screw manufacturer, has wanted to improve its market penetration -- especially since SKF acquired FAG's CBSSB business as a condition of being taken over by INA. NSK will reportedly pay ¥800 million (USD $6.6 million) for the business, including production facilities in Nagano. The acquisition also includes all of NTN's ball screw testing equipment. Not included are NTN's automotive ball screw actuators, technical affiliations, or commercial licensees. The acquisition is expected to be complete by fourth quarter 2003.