A Japan-based automotive bearing manufacturer, JTEKT Corporation, a company formed three years ago through the merger of Koyo Seiko Company LTD and Toyoda Machine Works, Wednesday purchased Ohio-based Timken Company’s Needle Roller Bearing business.

The $300 million purchase could open up new future market possibilities for Koyo’s Orangeburg plant, said Steve McCullough, Koyo vice president and general manager.

“It will open doors, where we can potentially sell more of our current existing product in the Orangeburg ... facility,” McCullough said. “In turn, it opens up some more possibilities for future growth in our facilities here. It solidifies our future.”

The purchase will mean that JTEKT will assume operations of Timken’s Greenville and Walhalla plants in South Carolina.

Pending regulatory approvals and certain closing conditions, the sale would be complete before the end of the year.

Needle Roller Bearings supplies automotive original equipment manufacturer (OEM) customers with a range of radial and thrust needle roller bearings as well as bearing assemblies and loose needles.

A needle roller bearing is a bearing which uses small, cylindrical rollers. They are used to reduce friction of a rotating surface.

The transaction will secure JTEKT’s position as a leading manufacturer of automotive bearings.

In addition to automotive bearings, JTEKT provides parts for steering systems, driveline components, machine tools, and its OEM customers produce cars, jet engines, windmill power generators and bullet trains.

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