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NSK and ThyssenKrupp signed a basic agreement on cooperation

From:SINO BEARINGS2022-08-17
This is to inform you that Japan Seiko Corporation LTD. (hereinafter referred to as NSK) has signed a basic agreement with ThyssenKrupp AG (full name of the company: ThyssenKrupp AG, hereinafter referred to as ThyssenKrupp) on the establishment of a joint venture in NSK's steering gear business and ThyssenKrupp's automotive business since April this year.
The steering gear businesses of the two companies are highly complementary in terms of product types, customer groups, and production bases, and many synergies are expected. We hope that by combining the technology strengths of our two companies, we will be able to better meet the needs of our customers for a wider range of advanced technologies, while making long-term contributions to the industry as a leading supplier in the global market. The two sides will discuss details and aim to sign a final contract by 2022