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Bearing-Tech Acquires North Coast Bearings11/17/2008

BEARING TECHNOLOGIES ACQUIRES NORTH COAST BEARINGS

AVON, OH – February 14, 2008 – Bearing Technologies, Ltd. (BT), a leading manufacturer and private labeler of wheel hub assemblies and clutch release, racing, repair and industrial bearings, has acquired North Coast Bearings, Inc. (NCB), a major supplier of differential and transmission rebuild kits, bearings and related components. It is BT’s third major acquisition in the past five years.

“Last year, we solidified a corporate growth plan called ‘One-Ten by Twenty-Ten,’ and this acquisition signifies a major step towards reaching our goal of $110 million in annual sales by YR2010,” said BT President and CEO Laz Tromler, who announced the acquisition this morning. “This is a very synergistic relationship and we anticipate a virtually seamless transition with no effect on customers or suppliers.”

BT’s purchase of NCB enables both companies to expand their product offerings in the automotive and heavy-duty truck aftermarkets and diversify into other mobile markets.

For the past 15 years, BT has been manufacturing hub assemblies and wheel end components sold under private label by the world’s leading suppliers. Their brands include the Green Bearing line of clutch, rear axle repair, specialized racing and industrial bearings, as well as the PressureGuard™ line of central tire inflation systems. Additionally, BT manufactures OEM driveshaft center support bearings for the heavy-duty market.
 
NCB is the leading full line supplier of transmission and differential rebuild kits to the North American aftermarket. Through a strategic alliance with The Timken Company, they market the DT Components®* line of premium transmission, differential and transfer case rebuild kits and components for light and heavy-duty truck applications. Other NCB products include center support bearings, ring and pinion sets, axle shafts and u-joints, as well as the Precision Automotive brand of bearings, seals and CV axles for passenger cars and light trucks.  In addition to their Cleveland area headquarters, NCB has five distribution centers throughout North America.

NCB’s capabilities complement those of BT. Both companies provide a high degree of value-added content through specialized and custom packaging options, consistently high fill rates and quick order turn. BT also offers extensive product validation testing, resulting in products meeting the highest quality standards. Products are engineered and manufactured to customers’ specifications in ISO 9001:2000 or TS16949 certified facilities and delivered on a just-in-time basis, eliminating excess inventories while controlling labor and assembly costs.