Bearings In The News – October 2017

Posted by Bradley Irwin on October 20, 2017

This month we are featuring three articles, including one about laid-off bearings factory workers, one about the valuation of the automotive bearings market, and one about the latest financials from Menon Bearings.

How Laid off Bearings Factory Workers Attempt to Pick up the Pieces

Shannon Mulcahy is a hardworking mother, who at 43 years of age, had been working at the same bearings factory for 17 years.

Suddenly, her world was turned upside down when it was announced that the factory located in Indianapolis would soon be closed. Its ball bearings manufacturing operation would be moving to Monterrey, Mexico and the roller bearings would now be made in McAllen, Texas.

This decision caused 300 workers to suddenly become unemployed. But before the layoff, current factory workers were offered an extra $4/hr to train the Mexican workers who would be taking their places. This caused plenty of division and hostility among workers.

You can read more about the workers’ struggle to adapt in this story.

Valuation of the Automotive Bearing Market Expected to Reach $180 Billion by 2022

Automotive bearings are essential for the proper function of every vehicle. Numerous automotive components contain these bearings and different types serve multiple purposes, such as balance, safety and handling weight.

The increased manufacturing of vehicles all over the world has raised demand for automotive bearings. So much so, that the industry’s current 2017 valuation of $142 Billion is expected to soar to at least $180 Billion by 2022.

Ball bearings are expected to see the most growth in regards to market value. It is currently the global market leader and experts believe that it will reach a valuation of $35 Billion by 2022. Ball bearings are so widely used because they are effective in a variety of applications.

Compact passenger cars are among those many applications and their market growth is expected to rise 5% by 2022.

You can learn more about the growth of the automotive bearings market in this report.

Menon Bearings Prepares to Announce Second Quarter Financial Outcomes

Menon Bearings Ltd is a public limited company located in India that is traded on the New York Stock Exchange. It was first incorporated in July of 1991.

It was announced on October 12, 2017 that the company’s board of directors will be meeting on November 9, 2017. At that time, they will go over Menon Bearings’ un-audited second quarter finances.

The company’s trading window will be closed starting October 12, 2017 and will not reopen until November 11, 2017.

You can read more about the announcement in this article.

Last modified on October 16, 2017

Categories: Bearings, News

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