ABC Bearings inks JV with NSK

New Delhi, Mar 11 (UNI) ABC Bearings Ltd has signed an agreement with Japan-based NSK Ltd to form a joint venture (JV) company to manufacture bearings for the automotive industry with an investment of Rs 80 crore by 2010, targeting mainly Japanese and other transplant customers.

The JV, NSK-ABC Bearings Ltd, will be located in Tamil Nadu and will start the commercial production from January next year with an initial investment of Rs 50 crore.

NSK will own 75 per cent stake in it, while rest will be held with ABC Bearings, a company statement said.

UNI