Timken and United Wagon Co agree Russian bearing joint venture
RUSSIA: US-based bearing supplier Timken and Russian rolling stock manufacturing and leasing company United Wagon Co have agreed to establish a joint venture to produce Timken AP-2 rail bearings in Russia.
Timken said both companies see an opportunity to capitalise on growing demand, as the rail industry moves from cylindrical roller bearings to more efficient and reliable cartridge tapered roller bearings.
Subject to regulatory approval, construction of a manufacturing facility is expected to start in the next few months. The joint venture builds on a 2013 strategic partnership agreement covering technical and design support as well as the supply of bearings.