March 14, 2006

NTN and Renault start talks regarding a partnership in the bearing business

Renault and NTN have decided to resume their talks regarding a partnership in the bearings business.

Talks will be aiming at exploring the possibility for NTN, one of the leading global manufacturers of bearings, to use SNR Roulement, Renault's subsidiary, as their center for future developments, mainly in Europe. They will address especially the issues of the optimum use of SNR manufacturing capacities, the choice of Annecy as the major NTN Center for bearing research and development in Europe, and the role of Renault in this partnership.

In a very competitive market, requiring increasing R&D efforts, the contemplated partnership would therefore allow the consolidation of existing employment and confirm SNR as a technical innovator and important player.

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