Minebea Co., Ltd., Agrees to Acquire European Bearing Manufacturer, Myonic Holding GmbH
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Feb 06,2009
Minebea Co., Ltd. and myonic Holding GmbH have agreed to the terms of a business combination, whereby Minebea Co., Ltd. will acquire the stock of myonic Holding GmbH, a ball bearing manufacturer with headquarters in Leutkirch, Germany. In addition to its manufacturing headquarters in Germany, myonic has an assembly plant in the Czech Republic, and sales operations in Europe as well as the United States.
With this acquisition, Minebea adds a critical dimension to its core business as the world’s leading producer of miniature bearings. myonic has captured a key market segment with its high precision bearing technology focusing on critical applications in the medical and dental markets with particular success in complex bearing-related assemblies. With myonic, a market leader in Europe, and New Hampshire Ball Bearings (“NHBB”) in North America, the Minebea Group of companies will continue to emphasize growth in special bearings, larger size ball and roller bearings for the medical, dental, and aerospace markets along with its high volume, fully automated bearing production in Southeast Asia. Strategically, the addition of myonic creates a significant global presence in the specialty bearing market serving the dental and medical industries. In addition, this acquisition will provide a European manufacturing presence to expand Minebea’s aerospace bearing business in that part of the world.
Minebea plans to have its NHBB business unit take operational control of myonic while financial consolidation will take place in Japan.
Many of the products produced at the Leutkirch facility are complementary in nature to those manufactured at NHBB’s Precision Division which will now offer the total customer base a broader line of products for the medical, dental, aerospace, and industrial markets. Products include miniature & instrument bearings in both inch and metric series, thinex and torque tube bearings, airframe bearings, aircraft instrument bearings, thrust bearings, X-Ray tube bearings, next up assemblies, and mid-size bearings.
The terms of the transaction include Minebea’s acquisition of the stock of myonic Holding GmbH, myonic GmbH, myonic s.r.o., and myonic U.K. In addition, Minebea will acquire certain assets of myonic Inc. in the United States under a separate Asset Purchase Agreement.
The closing is subject to anti-trust approval by the German Federal Cartel Office.
New Hampshire Ball Bearings, Inc. (NHBB) is a leading domestic manufacturer of precision bearings and assemblies for the aerospace, defense, medical/dental, and high technology markets. Based in Chatsworth, CA, NHBB operates three manufacturing facilities in the United States and employs more than 1,300 people. The company was founded in Peterborough, NH in 1946 and later purchased by Minebea in 1985. NHBB operates under NMB (USA), Inc., the North American headquarters of the Minebea Group of companies. Other subsidiaries of NMB (USA) include NMB Technologies Corporation, Chatsworth, CA, and Hansen Corporation, Princeton, IN.
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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