Federal-Mogul Divests Large Bearings to South African Buyers

Resource from: www.ebearing.com Likes:2985

Sep 06,2004

Federal-Mogul Corporation (USA) has divested its Large Bearings Division (formerly Glacier Bearings) in South Africa to a, "black economic empowerment consortium" of businessmen, including former senior management of the company. The buyout group has renamed the company GB Pty. Ltd., but plans no facilities changes. In operation in South Africa since 1962, Large Bearings has manufacturing operations in Durban, Johannesburg, and Cape Town. Durban, its home office, and Johannesburg are ISO 9000 certified. Large Bearings manufactures a wide variety of plain bearings -- from tilting pad thrust bearings to plain white metal bushings -- in sizes from 25mm to 5500mm. GB will continue to sell under the brand names it manufactures -- Deva, Devaglide, Devatex, Glyco Glycodur bearings and bushings, and Waukesha. The company is a licensee to Waukesha Bearings (USA, a division of Dover Corporation), enabling it to provide customers access to service and technical support through Waukesha. GB inherits a market leadership position as South Africa's largest manufacturer and seller of industrial plain and white-metal bearings, but the company said it is facing increased competition from imported bearings. Approximately 100 workers have transitioned from Federal-Mogul to GB, where they are now 10% owners of the new business. Going forward, GB says it is establishing production and quality incentive programs, along with offering continuing training, in an effort to keep its market leadership position. Repair and production facilities will also being upgraded and staff added to speed manufacturing, repair and service order fill.

(www.ebearing.com)

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