Establishment of joint venture for railroad bearings in China

Japanese NTN Corporation (hereafter NTN) and Chinese Nanjing Puzhen Rolling Stock Works (hereafter Nanjing Puzhen) established a joint venture company for production and sales of railroad bearings.

Rail service is rapidly developing in China and NTN will secure a production base for railroad bearings there. The joint venture company will produce and sell cylindrical roller bearings and their parts with Nanjing Puzhen, part of the CSR group (Note 1) which has a close relationship with the Chinese Railroad Ministry.

The joint venture company will supply high quality bearings to Chinese rail companies, by enhancing quality, cost and delivery incorporating NTN's technologies and CSR Nanjing Puzhen's production and sales capabilities.

New Company Profile

Company Name: Nanjing Puzhen NTN Railway Bearing Co.,Ltd.

Main Business: Manufacture and sales of cylindrical roller bearings and their parts for railroad

Capital: 6.6 million US dollars

Investors: Nanjing Puzhen Rolling Stock Co.,Ltd. (60%), NTN (China) Investment Corporation (40%)

Address: No.5 Longhu Alley, Puzhen Town, Pukou District, Nanjing City, Jiangsu, CHINA

Estabished Date: December 2007

Manufacture Start: January 2008

Area: Approx. 9000m²

(Note 1) The enterprise was established in 2000 after China Locomotive & Rolling Stock Industry Corporation was separated and reorganized by the Chinese Ministry of Railway into CSR and CNR. It is a state-owned company directly controlled by the Chinese central government and is composed of 27 subsidiaries and affiliates for the production and sales of rail and related machinery.