UK investor buys precision bearings business from NSK - Drives&Controls

Oct 19, 2024

Neuweg Fertigung manufactures high-quality rolling bearings in Germany

The Japanese bearings-maker NSK has sold its German Neuweg Fertigung subsidiary to a British investor, Stephen Lord (who will become CEO), and to two existing employees, Willi Castro Santanella and Dominik Szell, who will become chief financial officer and chief operating officer, respectively. The terms of the deal have not been released.

Neuweg, based in Munderkingen, specialises in producing small quantities of high-quality rolling bearings. It will be run independently but will continue to work with NSK after the sale takes effect on 1 September 2024.

The new CEO Stephen Lord, has extensive experience in international management. “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,” he says.

“Our focus will be on expanding the product portfolio and further improving our efficiency, while maintaining the highest standards of quality and reliability,” adds the new CFO, Dominik Szell.

Neuweg was founded in 1954 as a subsidiary of an agricultural machinery manufacturer and was taken over by NSK in 1990. It produces about three million ball bearings annually, and specialises in double-row ball bearings.

The company has concentrated on flexible production of rolling bearings, mainly for the agricultural machinery, which has special requirements for protection against dust, dirt and shocks. Other applications include elevators, sports cars, motorcycles and film-making equipment.

Another focus area is pumps and compressors. Neuweg develops and manufactures double-row angular contact bearings, as well as four-point contact bearings.

Neuweg also produces support rollers and pulleys for use in high-temperature steel furnaces, and for the production of plastic foils and flat screens.

The new COO, Willi Castro Santanella, says: “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.”

In 2023, NSK employed more than 3,200 people in Europe and the business generated sales worth more than €662m.

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