General Bearing Corporation to Explore Strategic Alternatives

Resource from: CBCC Likes:2962

Aug 15,2005

WEST NYACK, N.Y.--(BUSINESS WIRE)----General Bearing Corporation (GNRL.PK) announced today that it is exploring strategic alternatives to create liquidity for its shareholders. David Gussack, the Chief Executive Officer and Director, stated that "in pursuit of our continuing goal of creating value for the shareholders, General Bearing is taking steps to identify strategic options including a possible sale or merger." The Company further stated that it has engaged the investment banking firm of Jefferies & Company, Inc. ("Jefferies"), to advise and assist it in these efforts. No formal decisions have been made and no agreements have been reached at this time. There can be no assurances that any particular alternative will be pursued or that any transaction will occur, or on what terms. General Bearing Corporation is a global manufacturer and supplier of bearings and bearing components, which it sells to original equipment manufacturers and the industrial aftermarket.

()

【CBCC News Statement】
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.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Schaffler develops energy-efficient bearings

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.