NSK has announced the sale of Neuweg Fertigung GmbH, its German subsidiary based in Munderkingen, to British investor Stephen Lord and existing employees Willi Castro Santanella and Dominik Szell. The sale will take effect from 1 September 2024. The Munderkingen plant, which specialises in the production of small quantities of high-quality rolling bearings, will be run independently but will continue to work with NSK.
Neuweg was founded in 1954 as a subsidiary of an agricultural machinery manufacturer and was taken over by NSK in 1990. Within the global NSK network, it has since concentrated on the flexible production of rolling bearings in smaller quantities – primarily for the agricultural machinery industry, but also for mechanical engineering.
The new CEO Stephen Lord, who brings with him extensive experience in international management, commented, ‘Our aim is to build on the strong foundation of NSK and utilise the heritage and technical excellence of the Munderkingen plant to expand our global reach.’ Mr Lord will be supported by two long-standing Neuweg executives in Dominik Szell and Willi Castro Santanella.
Dominik Szell, newly appointed CFO at Neuweg, said, ‘Our focus will be on expanding the product portfolio and further improving our efficiency, while maintaining the highest standards of quality and reliability that our customers value.’
Willi Castro Santanella, COO from 1 September, added, ‘We are determined to preserve the heritage of the Munderkingen plant, while at the same time driving innovation and offering our customers exceptional added value.’
