NRB Bearings, Unitec Group Form JV to Boost CRB Portfolio

• NRB Bearings teams up with Unitec Group to expand in industrial CRBs
• LEED-certified plant in Hyderabad; Unitec provides technical support and buys 20% of output.
• NRB holds 75%, Unitec 25%; NRB markets in India, Unitec in Italy

NRB Bearings, a globally recognized supplier of needle and cylindrical-shaped ball bearings based out of Mumbai, India, is pleased to announce a new joint venture with Italy’s Unitec Group to increase the size and presence of its precision industrial cylindrical roller bearing (CRB) product category.

Unitec’s knowledge as a high-precision engineering supplier and established customer base in Europe will greatly enhance NRB’s position in this segment as part of NRB’s desire to establish a stronger presence in all industrial, off-highway, construction, machine, and also all emerging technology applications.

Unitec is also a part of the Mondial Group of Companies and had sales of over €60 million last year. They have established themselves in an enviable position among numerous major original equipment manufacturers (OEM) including Bonfiglioli (industrial gearboxes), SAME (agricultural equipment), Leonardo (aerospace and defence), ITEMA (textile machinery), MAINA (steel manufacture), as well as many robotics and automation companies around the world.

In accordance with the terms of this agreement, NRB and Unitec will work together to build a state-of-the-art LEED-certified manufacturing facility located in Uppal, Hyderabad. This new facility will produce an array of Industrial CRBs, as well as supply certain Mobility Applications.

Both the companies form a joint venture India to expand their CRB portfolio, focusing on industrial CRB bearings, bearing manufacturing, and industrial components India.

Unitec will contribute its expertise in a variety of technical, operational and engineering aspects, and will purchase 20% (twenty percent) of the total yearly production of the Joint Venture (JV) to ensure that production capacity is maintained and utilised effectively.

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Under the newly created Joint Venture, NRB intends to maintain a minimum of 75% (seventy-five percent) ownership interest in the JV, while Unitec will ultimately have up to 25% (twenty-five percent) ownership, pending approval from the appropriate Regulatory Authorities.

Initially, the Board of the Joint Venture will be comprised of three (3) Directors nominated by NRB and one (1) Director from Unitec. Both Companies have mutually agreed that they will not compete against one another in the Industrial CRB marketplace in India.

Furthermore, Unitec will serve as the sole Selling Agent for the Joint Venture’s CRB products sold in Italy, while NRB will be the sole Seller of the Joint Venture's and Unitec's Products in India; thereby enhancing both Companies' Global and Domestic market presence.

Harshbeena Zaveri, Managing Director, NRB Bearings stated, “This joint venture marks a strategic step in the expansion of our industrial bearings portfolio both in India and internationally”.