BSA Oilite Bearing Operations Acquired

Resource from: CBCC Likes:2977

Mar 07,2006

BSA Precision Oilite (UK), the only division of BSA Advanced Sintering (UK) remaining in operation, has been acquired and will continue on. The Oilite management team formed a new company, Oilite Bearings, to buy out the division from BSA receivers. Reportedly, Oilite had been BSA's only profitable operation for some time. It produces specialty oil-impregnated bronze powder metal plain bearings. Approximately 40 workers will remain with Oilite. The three Oilite executives involved in the buyout are Paul Mitchell, Alistair Brixey, and Peter Jones. Originally, the new company intended to acquire not only Oilite, but also BSA Precision Castings. So many BSA customers have pulled their business since the company filed for protection in October 2005, however, that the casting operations reportedly were no longer viable. No financial details of the acquisition were available. For now, Oilite will continue to operate within BSA's Elton Park Business Center location in Ipswitch.

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