RotoPrecision acquires Swiss special bearing manufacturer
Mississauga, ON -- Feb. 4, 2003 -- RotoPrecision Inc. has reached agreement with the Japanese group, NSK, to purcha...
Mississauga, ON — Feb. 4, 2003 — RotoPrecision Inc. has reached agreement with the Japanese group, NSK, to purchase all the shares of Waelzlager Industriewerke Bulle AG (WIB). The signing took place Jan. 31, 2003, and the transaction will be completed on March 31.
Founded in 1961, WIB is a specialty miniature precision bearing manufacturer located in Bulle, Switzerland. It has a broad industrial customer base of original equipment manufacturers and distributors in over 30 countries around the world.
WIB currently employs over 150 production, sales and administrative staff. WIB manufactures products under its own brand, under the "Swiss Made" mark, as well as for many other major bearing manufacturers around the world.
WIB has been owned by NSK since 1990. To support a smooth transition, NSK will continue to market WIB products for a time throughout its international sales network.
RotoPrecision Inc. is a privately held group of distribution and manufacturing companies based in Mississauga, Ont., with current operating companies in Canada and the United Kingdom. RotoPrecision Inc was founded in 1958 and is established in the specialty-design and high precision niches of the industrial components market.
Currently, RotoPrecision Inc. has holdings in precision bearings, precision shafting, specialty lubricants, specialty fasteners and mechanical power transmission products. The acquisition of WIB adds special-design and manufacturing capability in precision bearings and rotating components, as well as an established sales presence in continental Europe and other international markets.
For details, contact Keith A. D. Mayo, managing director, RotoPrecision Inc., by e-mail at email@example.com, or visit www.rotoprecision.com.