NSK is to sell all of its shares in the Swiss bearing vendor Waelzlager Industriewerke Bulle (WIB) to RotoPrecision, a privately held group of distribution and manufacturing companies based in Mississauga in Canada.
The deal was signed on January 31, 2003 and the sale of the shares should be completed by March 31, 2003.
Founded in 1961, WIB is a specialty miniature precision bearing manufacturer located in Bulle. WIB currently employs over 150 production, sales and administrative staff.
WIB manufactures products under it’s own brand, under the ‘Swiss Made’ mark, as well as for other bearing manufacturers around the world.
The company had been owned by NSK since 1990.
To support a smooth transition, NSK will continue to market WIB products for a time through its international sales network.