Miba and Zollern launch joint venture in bearings segment

Combing strengths creates advantages in global competition

  • Joint venture operating since October 1, 2019, Miba takes over industrial leadership
  • Miba contributes its five engine bearing production facilities, Zollern contributes one engine bearing plant and two industrial bearing plants
  • The Miba Bearing Group now has 12 production facilities throughout the world – the eight plants involved in the joint venture and Miba’s four industrial bearing plants that are not part of the joint venture
  • Major contribution to the development of technologies in decarbonization and renewable energy

 



Laakirchen, October 1, 2019 The joint venture between Miba AG and the Zollern Group in the bearings segment was launched today. The Miba Group is contributing its five engine bearing plants, which generate around 20 percent of Miba Group’s entire earnings. Zollern is contributing two industrial bearing plants and one engine bearing plant. The four existing Miba industrial bearing plants do not form a part of the joint venture, other business areas at Miba and Zollern will be left unaffected, too.


Miba has industrial leadership

Miba holds 74.9 percent of the joint venture and has the industrial leadership. The company is headquartered in Laakirchen, Austria. Miba Bearing Group has already been a powerful, innovative bearings specialist represented in all important customer markets with 9 production facilities. By integrating Zollern’s three bearing plants, its global presence has grown to 12 production sites in Europe, the United States, Brazil, and China.

Miba’s industrial bearing business set to grow further

This step mainly serves to expand Miba’s industrial bearing business, which has grown from four to six production facilities in Germany, the United States and Brazil. The engine bearing segment will also have an additional plant in Germany. After this expansion, the entire new bearing group will be able to work for its customers on an even broader basis, both technologically and with regard to its global presence.

Important contribution to decarbonization and the use of renewable energy

The goal of the new company is to combine the strengths of Miba and Zollern in the bearing business and thereby to be in an even better position global competition. At the end of August, the joint venture was granted ministerial approval by the German Minister of Economics, Peter Altmaier – something which only happens in exceptional cases. The Minister reasoned above all that this was an important step toward the change of direction in energy policy and that it would help in reaching environmental policy targets. By combining their expertise in research and development, Miba and Zollern can make an important contribution to the development of new solutions in decarbonization and renewable energy, e.g. through new bearing technologies for wind power turbines.

The joint venture is headed by the Deputy CEO of Miba AG and CEO of the Miba Bearing Group, Dr Wolfgang Litzlbauer.