Parent company of NH Ball Bearings acquires Indiana firm
According to a news release from the Peterborough-based precision bearing manufacturer, MineabeaMitsumi Inc. signed a stock purchase agreement to acquire all shares of C&A Tool Engineering. The deal is a joint investment with the Development Bank of Japan, which will acquire 49 percent of C&A equity once the deal is completed, which is expected to be in the next 30 days, according to a the release. MinebeaMitsumi will acquire the remaining 51 percent stake.
C&A, based in Churubusco, Ind., produces precision components for the medical, aerospace, defense and fuel systems industries.
N.H. Ball Bearings was bought by MinebeaMitsumi, a Tokyo-based manufacturing conglomerate, in 1985, according to its website.
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