WEST NYACK, NY --July 12, 1999--General Bearing Corporation (Nasdaq:GNRL) today said Ningbo General Bearing Co., Ltd. (NGBC), Ningbo, China, one of its three Chinese joint venture facilities, has earned the prestigious Quality Assurance standard QS-9000 certification. It is one of the few bearing manufacturers in China to have achieved this recognition. NGBC, which supplies ball bearings to the United States auto industry, also manufactures roller bearings as part of its product line.
QS-9000, which encompasses ISO 9002 for NGBC, is a quality standard developed in 1994 by the three leading U.S. automakers to bring about uniform quality standards at auto industry suppliers. It emphasizes defect prevention and the reduction of variation.
General Bearing President David Gussack said: "Ningbo’s modern and efficient manufacturing operation has earned its place among the auto industry suppliers. It has proven its capability to meet the strict manufacturing criteria of the U.S. automotive industry, and this certification is further evidence of General Bearing’s commitment to high-quality manufacturing."
General Bearing has been producing bearings in China since 1987 when it led the world’s bearing industry into the region with the establishment of its first joint venture, Shanghai General Bearing Company, Ltd. The Ningbo plant, which opened in September, encompasses 100,000 square feet of production area. It has the capacity to produce about $30 million of bearings annually.
General Bearing manufactures, sources, assembles and distributes a variety of bearing components and products. The company manufactures ball bearings, tapered roller bearings, spherical roller bearings and cylindrical roller bearings. Under "The General" and the "Hyatt" trademarks, the Company supplies original equipment manufacturers in the automobile, truck/trailer, railcar, office equipment, machinery and appliance industries, as well as the industrial aftermarket.
Barry A. Morris - CFO
General Bearing Corp.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of competitive products, product demand and market acceptance risks, reliance on key strategic alliances, fluctuations in operating results and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. These risks could cause the Company's actual results for the current FY and beyond to differ materially from those expressed in any forward looking statements made by, or on behalf of, the company.