Japanese bearing company NTN plans to acquire Brazilian company to achieve multinational expansion

Japanese bearing manufacturer NTN said on July 5 that the company plans to acquire the universal joint business of its subsidiary tedriveHoldingBV in Brazil and set up a new factory to produce and sell constant velocity joints to meet the growing automotive market in Brazil. Growing demand.

TedriveBrasil was founded in Brazil in 1997, specializing in the production and sale of universal joints and car steering systems. Enti will acquire the company's assets, including land, buildings, equipment and human resources, in order to put into production in the shortest possible time.

It is reported that the new plant is expected to be completed and put into production in June 2011. By the end of FY2015, the plant is expected to achieve sales of $80 million. The plant will be the 18th universal joint production base in Entien.

NTT is currently accelerating its expansion into emerging markets such as China, India and Brazil. The company stated in its mid-term management plan: "In view of the rapid development of the Brazilian automotive industry, increasing the production of key automotive components such as constant velocity joints is critical to our business development."

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