June 3, 2008

NTN Expands European CVJ Business by Acquiring SETFORGE's Crézancy Plant

NTN Transmission Europe (hereafter NTE), a constant velocity-manufacturing subsidiary of NTN Corporation (hereafter NTN) has decided to acquire the Crézancy Plant of SETFORGE, a leading forging manufacturer in France on June 1.2008. The Crézancy Plant is NTE's main forging supplier.

Background of Acquisition

·	Crézancy Plant is an important forging manufacturer which supplies about 50% of NTE's total forging procurement and uses high-level forging techniques for CVJ parts, including an in-house capability to design and manufacture dies.
·	NTN will increase its CVJ market-share in Europe as well as establish a stable procurement system for CVJ parts while expanding local procurement.
·	NTN will achieve further quality improvements and cost-cutting through faster product development by combining NTN's forging know-how with the Crézancy Plant's techniques.

Outline of the new company

	· Company name	:	NTN Transmissions Europe Crézancy (after acquisition)
	· Business lines	:	Development, manufacturing, and sales of CVJ outer ring forgings
	· Location	:	Crézancy(Picardie, Aisne, France)
	· Sales	:	approx. 2,000 million yen (shipments made only to NTE in 2007)
	· Employees	:	approx. 100 (December 2007)
	· Acquisition cost	:	approx. 400 million yen

Outline of SETFORGE

	· Business lines	:	Development, manufacturing, and sales of forgings for automobiles and industrial machinery
	· Established	:	1906
	· Head quarters	:	France
	· Business office	:	4 plants (excluding Crézancy Plant) in France. 6 business bases (Germany 1, Spain 1, India 1, Taiwan 1, and USA 2)
	· Sales	:	approx. 18,000 million yen (Fiscal 2006)

[Reference:Location of Crézancy Plant]

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