FAG acquires MB Industries
Resource from: From eBearing.com Likes:3064
May 05,2003
FAG Bearings Ltd. (Canada, a division of FAG Kugelfischer, an operating division of INA Holding, Germany) has acquired privately-held MB Industries (Avon, Ohio, USA).
MB is a key supplier in North American for heavy-duty truck driveline center support bearing assemblies. The company produces both branded and private label units -- 80% for the aftermarket and 20% for OEM customers such as Navistar, Mack, Volvo, and International Harvester.
FAG said it is taking over the Stratford, Ontario, Canada-based operations as-is, with no changes planned.
Similarly, there are no changes planned for MB's recently-constructed home offices in Avon, Ohio. MB shared the office, warehouse and manufacturing space with Bearing Technology Ltd. BTL will now take over the entire facility and absorb all MB employees into its own operations.
MB was founded in 1985 and has various roots in Cleveland Motive Products, Zeller Corp. (which acquired CMP in 1988), QURE Corp., and National Rubber. In 1994, MB purchased the center support molds and dies from former competitor Butler Products (Butler, Kentucky), incorporating that product line into its Canadian operations.
eBearing spoke to Michael Archer, President of MB Industries, about the sale.
"Finding the right buyer for MB was critical." Mr. Archer told eBearing. "Because MB and BTL share many of the same customers, we did not want them becoming upset with us down the road. Obviously, we believe customers will be very happy with the transition to FAG, given their resources and commitment."
"The opportunity came at a good time; it frees us to focus our energies on Bearing Technologies and the Green acquisition," said Mr. Archer.
Privately-held Bearing Technologies Ltd. is the largest U.S. aftermarket manufacturer of automotive and truck wheel-end hub assembly units. BTL recently acquired Green Bearing Co. from Park-Ohio Industries.
For FAG, the acquisition is an opportunity to not only flatten its supply chain -- MB was a customer for bearings in some of its premium units -- but also extend its line away from commoditized bearings and further into value-added products. Although the "generic" center supports use imported bearings, FAG can now import the bearings into Canada and export them as components of a finished center support unit.
FAG has already informed a number of customers they can expect a smooth transition. Customers will simply redirect their MB purchase orders to FAG Bearings Ltd. in Mississauga, Ontario.
Terms of the acquisition were not disclosed.
(From eBearing.com)
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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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