ABC Bearings Signs An Agreement With NSK

ABC Bearings Ltd has informed that the Company has signed an agreement with NSK Ltd, Japan, on March 06, 2007, to form a Joint Venture Company to manufacture bearings for the automotive industry, targeting mainly Japanese and other transplant customers.The profile of the JV Company is as follows:1. Company Name: NSK-ABC Bearings Ltd.2. Capital: 500 million Rupees (1.3 billion Yen)3. Ratio of Capital Contribution: NSK: 75% & ABC: 25%4. Location: Kancheepuram District, Tamil Nadu, India5. Land Area: 80,000 square meters