NSK has announced the sale of Neuweg Fertigung GmbH, its German subsidiary based in Munderkingen, to British investor Stephen Lord and existing employees Willi Castro Santanella and Dominik Szell. The sale will take effect from 1 September 2024. The Munderkingen plant, which specialises in the production of small quantities of high-quality rolling bearings, will be run independently but will continue to work with NSK.
Neuweg was founded in 1954 as a subsidiary of an agricultural machinery manufacturer and was taken over by NSK in 1990. Within the global NSK network, it has since concentrated on the flexible production of rolling bearings in smaller quantities – primarily for the agricultural machinery industry, but also for mechanical engineering.
The new CEO Stephen Lord, who brings with him extensive experience in international management, commented, ‘Our aim is to build on the strong foundation of NSK and utilise the heritage and technical excellence of the Munderkingen plant to expand our global reach.’ Mr Lord will be supported by two long-standing Neuweg executives in Dominik Szell and Willi Castro Santanella.
Dominik Szell, newly appointed CFO at Neuweg, said, ‘Our focus will be on expanding the product portfolio and further improving our efficiency, while maintaining the highest standards of quality and reliability that our customers value.’
Willi Castro Santanella, COO from 1 September, added, ‘We are determined to preserve the heritage of the Munderkingen plant, while at the same time driving innovation and offering our customers exceptional added value.’
About the Neuweg Fertigung GmbH:
Neuweg is a leading German manufacturer of precision bearings dedicated to providing innovative solutions and exceptional value to customers worldwide. With a focus on quality, we strive to achieve excellence in every aspect of our business.
About NSK Europe:
NSK Europe Ltd. is the European organisation of the Tokyo-based bearing manufacturer NSK, which was founded in Japan in 1916 and today employs nearly 25,600 people in its worldwide operations. The products and solutions provided by the industrial and automotive supplier can be found wherever things move. In addition to nearly all types of rolling bearings, the company’s portfolio includes housed bearings, linear technology, wheel bearing units, transmission and engine bearings. The company is oriented to perfection in all of its business activities. Its aim is quality leadership in its industry, which it strives for through a continuous process of improvement, excellent product development, optimised production processes and customer-oriented service processes. In fiscal year 2023, the more than 3,200 employees of NSK Europe Ltd. generated sales of over € 662 million.
