EBC and U.S. Manufacturer Plan Joint Venture

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Oct 29,2007

EBC and U.S. Manufacturer Plan Joint Venture European Bearings Corp. (EBC, Russia) is reportedly in joint venture negotiations with an unnamed U.S. rail bearing manufacturer. Reportedly budgeted at more than USD $60 million over three years, the venture will bring U.S. rail bearing production technology and skills to EBC's existing Saratov Rail Bearing Plant (the former state-run SPZ Saratov Bearing Plant). EBC is the largest bearing manufacturer in Russia, and has commanded a market share approaching 30% of the Russian rail bearing market. The company's rail bearing sales include $100 million per year from a Russian government contract. Locating in China, India and Russia are considered keys to participating in the next growth wave expected to roil the world's most promising rail bearing markets. North American rail is also staging a comeback, and should continue strong as truck fuel and growing demand for moving high-volume commodities -- particularly ethanol-related -- continue to ramp up. EBC said negotiations are expected to conclude within a few months.

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