KS Bearings and Miba Bearings Form Joint Venture

SOUTHFIELD, Mich., Sept. 19 /PRNewswire/ -- Kolbenschmidt Pierburg's KS Bearings division and Miba Bearings US LLC have created a 50-50 joint-venture company in Indiana to produce materials that are needed to manufacture plain bearings for the automobile and commercial vehicle industries. Headquartered in Greensburg, Ind., Advanced Bearing Materials (ABM) LLC will make cast-lead and lead-free bronze and brass hybrid materials that will be supplied to Miba and KS plants in the USA, Germany, and Austria. KS and Miba will own equal shares of the new business and co-manage its operations. KS Bearings will provide an 85,000-square-foot factory in Greensburg to house the ABM joint venture that initially will have 36 employees. ABM production activities are scheduled to begin in November. "The joint venture represents an ideal fit for our two companies and the products we produce," said David Mosier, president of KS Bearings. "ABM also lays the groundwork for future cooperative efforts between the two firms." The deal allows Miba to secure a long-term supply of cast-lead bronze and improve the quality of its bearings. For KS Bearings, the joint venture allows it to optimize production at the Greensburg facility. KS Bearings focuses on passenger car and light commercial vehicle applications. Miba -- the world-market and technology leader for medium-speed diesels -- supplies bearings for diesel engines used in a variety of applications including heavy-duty trucks, ships and locomotives. The joint venture company also creates an avenue for KS and Miba to cooperate on future projects, such as the joint development of lead-free bearing materials and coating systems, sharing existing testing facilities and opening up new markets. KS Bearings, a key manufacturer of engine bearings, journal bearings, bushings, flanged bushings, and thrust washers for the global auto industry, is a division of Kolbenschmidt Pierburg, a leading supplier of pistons, automotive oil and water pumps, electric throttle controls, bearings, secondary air systems and electric exhaust-gas recirculation valves. Kolbenschmidt Pierburg's four North American units have production facilities in Fountain Inn, S.C.; Greensburg, Ind.; Fort Wayne, Ind.; Marinette, Wis., and Leamington, Ontario, in addition to its North American sales offices in Southfield. Kolbenschmidt Pierburg AG is a subsidiary of Rheinmetall AG. The company has approximately 11,400 employees at its five automotive divisions. Global sales for its Aluminum Technology, Pierburg, KS Pistons, KS Plain Bearings and Motor Service divisions totaled nearly $2.4 billion in 2004. Additional information is available on the Internet at http://www.usa.kolbenschmidt-pierburg.com . Miba Bearings US LLC of McConnelsville, Ohio, is a part of the Miba Bearing Group producing plain bearings for commercial vehicles and other large engines. Its annual sales amount to $138.3 million and it has a global workforce of 740. The Miba Group of Laakirchen, Austria, manufactures sintered parts, plain bearings, and friction linings for motor and rail vehicles, ships, aircraft and power plants at nine locations worldwide. The Miba Group employs 2,700 people and achieved sales of $404 million in fiscal 2004/05. Additional information is available on the Internet at http://www.miba.com .