Manheim based Fenner Precision Polymers, a unit of Fenner PLC (FENR a publicly listed company on the London Stock Exchange and member of the FTSE 250), is pleased to announce it has acquired the assets and business of National Bearings Company, a specialist manufacturer of engineered polymer and metalbearing solutions, based in Lancaster, PA.
National Bearings joins the growing Precision Polymers Division, which operates four facilities in Lancaster County, PA serving the power transmission, motion control, fitness, agriculture, and general industrial markets. Established in 1917, National Bearings manufactures a wide variety of products consisting of thrust bearings, angular contact bearings, radial bearings, thrust retainers, and plastic roller assemblies. All current employees of National Bearings have been offered positions in the new unit of Precision Polymers.
According to Jack Krecek, Precision Polymers Divisional Managing Director, “I am pleased to welcome National Bearing’s customers, suppliers, and employees to the Fenner family. This acquisition is part of an ongoing effort to build on the success of our commercial growth strategy. We look forward to offering Fenner customers a new and expanded range of product solutions which have been developed by National Bearings in their 100+ years in the business. National Bearing’s facility and equipment will also prove to be timely additions to our Lancaster County manufacturing footprint, enabling us to quickly provide increased production capacity for our current range of metal products.”
Brian Slingluff, Vice President, Global Sales and Marketing added, “The acquisition of National Bearings provides us with the opportunity to expand our product base in core markets and gain traction in areas that we do not currently operate. It is a terrific added benefit that we are both Lancaster based manufacturers operating in the Power Transmission industry, allowing us to integrate quickly.”
Jess May, President of National Bearings, stated “I am thrilled that National is becoming part of the Fenner Group. This will ensure a bright future for National’s loyal and committed employees, support its customers, and grow the company in its second century. I see many mutual benefits to both companies.”