Wanxiang Acquires More Bearing Manufacturing Equipment

Karolin Machine Tool AB (KMT, Sweden) reported its Lidkoping Machine Tools subsidiary received two recent large orders from Wanxiang Group (China). Lidkoping said Wanxiang bought complete, integrated systems to produce automotive hub bearing units, integrating all of the steps from "hands-off" materials transport to grinding to gauging. One set of equipment is already scheduled to come online in 2004, while the second set is scheduled for delivery and installation in early 2005. Lidkoping said these are the second and third integrated hub manufacturing systems Wanxiang has purchased from them in the past year. Wanxiang is a key Chinese manufacturer of ball and roller bearings, hub units, universal joints and CV joints. The company has OEM and aftermarket customers around the world. Johan Westberg, Lidkoping's President, said, "The Chinese market is very important for Lidkoping and this order strengthens our position further in China."