17 December 2018

Milestone for Autonomous Driving: Schaeffler Showcase "Space Drive"


The technology platform of the Schaeffler Mover is designed for flexibility so that various body styles for diverse uses can be implemented

2018-12-14 | Herzogenaurach, Germany

  • Technology group Schaeffler to showcase "Space Drive" as a further breakthrough innovation for autonomous driving
  • Innovative Schaeffler Mover for sustainable electric mobility in cities
  • Flexibility and connected operation as keys to mobility for tomorrow

According to United Nations forecasts, two thirds of the world population will be living in cities by 2050. To offer people living in places where space is at a premium personal mobility, Schaeffler is working on technology concepts such as the Schaeffler Mover for which the technology group has developed new system solutions.

"Space Drive" – a technological milestone for autonomous driving

Autonomous vehicles require neither a steering wheel nor pedals for acceleration and braking. They are replaced by digital controls such as joysticks, notebooks or smartphone apps. Control is no longer performed by mechanical means but within nano seconds through electrical impulses transmitted via cables and wires, which is why the technology is referred to as "drive-by-wire." The "Space Drive" technology installed in the Schaeffler Mover has previously proven its viability in vehicles for people with disabilities on more than 700 million accident-free kilometers. "Space Drive," now being further developed by Schaeffler Paravan Technologie GmbH & Co. KG, is certified according to the highest quality and safety requirements (ISO 26262 – ASIL D) and has TÜV and road approval. In addition, it has been designed for triple redundancy: If one control unit fails there are two safeguards ensuring absolute failure safety. There is no comparable system anywhere in the world. In combination with GPS, Radar and other sensors, "Space Drive" provides the basis even at this time for autonomous – fully automated and driverless – Level 4 and 5 driving.

Compact drive module: "Schaeffler Intelligent Corner Module" ensures agile handling

Autonomous vehicles such as the Schaeffler Mover require novel drive concepts. One of them is the "Schaeffer Intelligent Corner Module" in which all propulsion and chassis components are installed in a compact, space-saving assembly unit: the wheel hub motor, suspension including springs and electromechanical steering. The latter is an electromechanical "steer-by-wire" system controlled via the "Space drive" technology. The Intelligent Corner Module offers wheel cut of up to 90 degrees. As a result, the vehicle can be maneuvered in narrow streets and even allows for parallel parking for passenger ingress and egress. Even on-the-spot turning is possible. Schaeffler will be demonstrating all functions of the "Intelligent Corner Module" at CES 2019.

Maximum flexibility and connectivity for the needs of our big cities

The technology platform of the Schaeffler Mover is designed for great flexibility, allowing for various body styles from robo-taxis through to autonomous delivery vehicles to be implemented. The body – which can be converted for the desired application – can be quickly separated from the platform in which the technology required for driving is consolidated. Only some of the sensors required for autonomous driving are additionally integrated in the bodywork.

For autonomous urban vehicles, connectivity is a crucial prerequisite for trouble-free operation. In the concept vehicle, Schaeffer's experts achieve this by using a digital twin of the vehicle that mirrors the real-world vehicle in a cloud. By continuously analyzing the operating and condition data, for instance, future maintenance needs can be detected in advance. "The vehicle that is rigorously designed for connected operation fills an important gap in the current portfolio of the automotive industry," says Schaeffler's Chief Technology Officer Prof. Peter Gutzmer.

Visit us at CES, Central Plaza, Booth 25.

You will be able to watch the press conference live on January 6th, 2019, at 1:00 pm (GMT-8).

The "Space Drive" system by Schaeffler Paravan GmbH is a key technology for autonomous driving and has been successfully used on more than 700 million kilometers.


https://www.schaeffler.com/content.schaeffler.com/en/news_media/ press_office/press_releases/press_releases_detail.jsp?id=85731013

9 December 2018

SKF UK Aerospace Site Closure

SKF consolidates aerospace manufacturing Europe; proposes to close Stonehouse site


https://www.marketscreener.com/SKF-6493347/news/SKF-to-Consolidate-Aerospace-Manufacturing-in-Europe-27726754/

SKF today announces a consolidation of its aerospace manufacturing footprint in Europe. Consequently, and subject to consultation with local unions, SKF proposes to close its bearing manufacturing site in Stonehouse, UK.

The Group will now enter into a period of consultation with employee representatives. Should the proposal be confirmed, manufacturing at the site in Stonehouse will cease by 31 December 2021, with production moved to SKF's aerospace bearing manufacturing sites in Italy and France.

Bernd Stephan, President, Automotive and Aerospace, says: "This consolidation is necessary in order to secure a continued competitive offering for the Aerospace industry, as it shifts away from legacy engines and aircraft to more modern ones. We will be able to make better use of more modern machines and manufacturing technologies at our sites in other parts of Europe."

Stonehouse currently employs approximately 185 people. The Group is committed to engaging with employees and their representatives and seeks to offer a wide range of support services together with a redundancy package, should the proposal be confirmed, with a focus on securing the site's continued operations until December 2021.

4 December 2018

Bearing Truth At Last

Today's News media chimes out "Truth at Last" on how informer broke a corruption scandal began March 2014, shining a light on gang war secrets 'heraldsun.com.au Tuesday December 4, 2018'

Its been over 4 years 'high-stakes' fight for the truth at the center of the untold story of bloody gang war is a web of detectives, police commanders, big-time drug dealers and 'Lawyer X' who became the whistleblower, a secret source of information and intelligence for detectives. Lawyer X played both sides of the fence representing some of the biggest criminals in history, while also working as a registered police source known as "informer 3838"

Again, this media story based on truth and some readers may think "whats this in common with the Bearing Industry ?".... A Lot

The global Bearing Industry big or small criminally sized, commenced in the 1990's based on similar themes of 'Corruption' continues on from March 2014 without too much fuss, without police or detectives or consent of known Shareholders

What is known for many years are the major Bearing players, just as corrupt just as big-time and just as 'determined and righteous' acting from former bearing President executives & stake holders albeit in hidden capacity. Today, represents the greatest threat to the Bearing Industry as price fixing, illegal product market, money laundering, power brokering and other plays making money via corruption with some obtaining protection from major corporate boards and cronyism

Recent industry press releases of alleged Bearing Kickbacks Bribes and Pay-off arrangements to extort funds are major concerns leading to far greater happenings yet to be announced. Our advice is easy.....asks routine questions even from known household brands, the problems begin from the bottom and controlled from your highest level.

Bearing corruption first surfaced in 1993 according to EU Courts view:
http://www.autoritedelaconcurrence.fr/user/standard.php?id_rub=128&id_article=177
Confirm news item from Bearingcode.com: 16 April 2017 Main Bearing Manufacturers Violation of Law, Established 1993

2 December 2018

SKF Settles Daimler Lawsuit Over Bearing Cartel

Commission fines producers of car and truck bearings € 953 million in cartel settlement

STOCKHOLM, Nov 30 (Reuters) - SKF has reached a settlement with Daimler more than a year after the German automaker sued the Swedish engineering group over its alleged participation in a ball bearings cartel.

SKF, the world's largest maker of industrial bearings, was sued by Daimler after European Union antitrust regulators in March 2014 fined SKF and other suppliers a total of 953 million euros ($1.1 billion) for taking part in a ball bearings cartel.

In a statement on Friday SKF said the settlement, whose details were confidential, would have an "insignificant impact" on its financial position. ($1 = 0.8832 euros) (Reporting by Esha Vaish in Stockholm Editing by David Holmes)

http://ec.europa.eu/competition/antitrust/cases/dec_docs/39922/39922_2067_2.pdf

26 November 2018

Industry Awaits Lion Air 737 Crash Prelim Report

The aerospace industry awaits the preliminary report into JT610, the crashed Lion Air Boeing 737 Max 8, while the search continues for the aircraft's cockpit voice recorder.

Officials from the National Transportation Safety Committee, the national search and rescue agency Basarnas, and the country's meteorological agency have briefed government leaders about the investigation so far, according to a statement on the transport ministry's web site.

The officials reported that the flight data recorder of the aircraft (PK-LQP), which crashed on 29 October and killed 189 aboard, has yielded 1,790 flight parameters for 69 hours, comprising 19 flights.

The search for the cockpit voice recorder continues on the floor of the Java Sea, where the aircraft crashed while operating the Jakarta-Pangkal Pinang route.

The preliminary report into the disaster is expected on 28 November. The JT610 disaster has developed into a story of global interest to the aerospace industry.

Investigations are specifically looking at any role that a new automated stability system may have played. The Max is the first 737 to be equipped with the Manoeuvring Characteristics Augmentation System. This is a form of "flight-envelope protection" that automatically counters certain handling "characteristics" caused by design changes on the 737 Max. Specifically, this is a pitch-up in certain configurations because of the more powerful and repositioned engines.

While the transport ministry statement strikes a neutral tone, local media reports suggest that lawmakers urged the government to take a tough line with Lion Air, which has suffered a spate of safety incidents in its history.

Industry concerns revolve around 737 Max pilots' level of knowledge about the system. This prompted Boeing chief executive Dennis Muilenberg to state that reports that the company may have withheld information about the system are untrue.

While Boeing cannot comment publicly on an ongoing crash investigation, media reports indicate that it will host a series of regional calls for 737 Max operators.

LINKS REVIEW:

ANALYSIS OPINION: Pilots need answers on 737 Max safety systems
OPINION: Pilots need proper training for envelope protection
ALPA asks regulators to address 737 Max safety concerns
ANALYSIS ANALYSIS: Citilink, Sriwijaya tie-up adds a dose of market sanity
Airline industry rushes to understand nuances in 737 Max systems
Lion 737-900ER's wing damaged after hitting pole
Angle-of-attack sensor replaced before 737 Max crash
FAA order tells how 737 pilots should arrest 'runaway stabiliser'
FAA issues emergency 737 Max airworthiness order
Azur Air claims Russia's first 737-900ER
737 Max angle-of-attack sensor subject of Boeing bulletin
Indonesia conducts special audit on Lion Air
Boeing to issue 737 Max service bulletin: reports
NTSC finds signs that Lion 737 had faulty airspeed indicator
Lion 737's recovered engine had been functioning normally: NTSC
Lion 737 recorder memory unit recovered
Divers recover one recorder from crashed Lion 737
Searchers zero in on crashed Lion 737 Max 8
Jakarta suspends Lion Air's technical director
Investigators obtain ATC audio recordings of crashed Lion 737
Indonesian carriers ordered to check 737 Max fleets
Helicopters, ships scour sea for lost Lion 737 Max 8
Australian government officials told to avoid Lion Air
Major search operation underway for JT610
​Lion 737 Max 8 crash the second worst in Indonesian history
Lion Air 737 Max 8 crash confirmed, 189 dead
Contact lost with Lion Air 737 Max 8
ANALYSIS: Thai short-haul LCCs pile on the seat capacity

23 November 2018

SKF Consolidates Manufacturing China: Invests New Facility

Gothenburg Sweden

SKF is investing approximately SEK 200 million in improving its competitiveness and customer service levels for tapered roller bearings (TRB) in China. The investment is being made in a new manufacturing facility in Changshan, to which the Group's existing small-size TRB manufacturing in China will be transferred. As a result, three existing sites in Ningbo, Shanghai and Changshan will be closed.

Patrick Tong, President, Industrial Sales, Asia, says: "The tapered roller bearing market in China continues to show solid levels of growth, driven largely by the industrial gearbox and drives segments. The investment in Changshan allows us to capitalise on this trend by bringing our SKF, GBC and PEER brands and expertise together, under one roof."

The new manufacturing facility in Changshan is expected to be fully operational during Q1 2019.

For further information, please contact:
PRESS: Theo Kjellberg, Director, Press Relations
tel: 46 31 337 6576, mobile: 46 725-776576, e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
Patrik Stenberg, 46 31-337 2104; 46 705-472 104; patrik.stenberg@skf.com

http://news.cision.com/skf/r/skf-consolidates-manufacturing-in-china--invests-in-new-facility,c2678974

19 November 2018

NSK Bearings Newly Developed Load Detection Device

NSK BEARING statement: Prevents overloading and improves safety

NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Toshihiro Uchiyama) has developed the world's first hydraulic load detection device. The device can prevent overloading in vans, light trucks, and other vehicles. NSK first showed the device at Automotive Engineering Expo 2017. Check the video below for a closer look.

The video covers the features of the load detection device. We built a full demo car to demonstrate its potential to prevent overloading, and even improve driving safety and fuel economy.

Development Background

Vehicle overloading is a long-standing problem in many countries. Overloaded commercial vehicles, including light trucks and vans, are a costly social issue that is gaining attention. An overloaded vehicle has a longer braking distance, and is more difficult to steer. Overloading is a major contributor to serious accidents and road infrastructure damage (undulations, cracking, sinking), causing significant deterioration of road safety and comfort.

Governments are currently moving to strengthen regulations to prevent overloading. German highways, for example, have load sensors in the road at over 700 inspection sites. Drivers not only lose their license for violating load limits more than 3 times in a year, punitive measures make it harder to work as a professional driver after regaining their license. In Japan, highway toll booths have been installing electric scales, and large truck manufacturers are introducing on-board automatic load measurement systems. In light of the increasing need for overloading prevention in both developed and developing countries, NSK took up the challenge to create a compact on-board load detection device.

Features

NSK's load detection device is easy to install to the suspension of most vehicles, enabling precise weight measurement on the go. (Fig. 1)

The hydraulic device has a flexible diaphragm* that deforms under load, thereby increasing pressure in the fluid chamber. Load is calculated based on the increase in pressure. The hydraulic fluid is essentially non-compressible (high bulk modulus), which enables a design that operates with minimal diaphragm flex.

The device features a double layer seal to prevent fluid leakage. In the highly unlikely event that the hydraulic fluid leaks, the suspension spring will only extend a tiny amount to close a gap above the piston, resulting in no adverse effects on the suspension system.

The load detection device also features a thin, compact design to avoid significantly shortening suspension stroke. (Fig. 2)

* A thin material layer that flexes under pressure.

Demo Car

NSK developed a demo car equipped with the new load detection device. The device is attached to the suspension of the front and rear wheels, and is capable of measuring cargo load with an accuracy of ±5%. The device can also wirelessly transmit the cargo load (weight) to a mobile phone or on-board system, enabling the vehicle center of gravity to be calculated and utilized. (Fig. 3)

Ongoing Development

In addition to detecting overloading, NSK is further working to apply the data from the load detection device to develop environmentally friendly vehicle control systems, and enable safer, more comfortable driving experiences.

This includes safer braking by controlling front and rear brakes independently to account for load conditions, and improved fuel economy by controlling the transmission to account for load conditions. We are also considering several methods to use the technology to improve steering feel consistency and comfort.

12 November 2018

TIMKEN - One Longest Record Div NYSE-Listed Companies

Timken Declares Quarterly Dividend of 28 Cents Per Share

NORTH CANTON, Ohio, Nov. 9, 2018 /PRNewswire/ -- The board of directors of The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and power transmission products, today declared a quarterly cash dividend of 28 cents per share. The dividend is payable on Dec. 4, 2018, to shareholders of record as of Nov. 20, 2018.

This marks the 386th consecutive quarterly dividend paid on the common shares of the company since The Timken Company joined the New York Stock Exchange in 1922, one of the longest-running dividend records among NYSE-listed companies.

About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) engineers, manufactures and markets bearings, gear drives, automated lubrication systems, belts, chain, couplings and linear motion products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and power transmission across a variety of bearings and related systems to improve the reliability and efficiency of machinery and equipment all around the world. The company's growing product and services portfolio features many strong industrial brands including Timken®, Fafnir®, Philadelphia Gear®, Groeneveld®, Rollon® and Cone Drive®. Known for its quality products and collaborative technical sales model, Timken posted $3 billion in sales in 2017. With more than 17,000 employees operating from 33 countries, Timken makes the world more productive and keeps industry in motion.

http://news.timken.com/2018-11-09-Timken-Declares-Quarterly-Dividend-of-28-Cents-Per-Share

8 November 2018

Schaeffler Factory Brexit Fears: 570 Jobs Risk

The UK Schaeffler plant in Llanelli employs 220 people, with another 350 in Plymouth

More than 550 UK jobs are at risk after an automobile and industrial firm announced plans to close plants amid "uncertainty surrounding Brexit".

Schaeffler plants in Llanelli and Plymouth are earmarked for closure, with the firm proposing to relocate production to plants outside the UK.

It has started a 45-day consultation on the plans.

In Plymouth, 350 staff are employed in the factory and 220 are at the Llanelli plant.

The union Unite said it would "fight for every job".

Assistant general secretary Tony Burke called the closures "yet another body blow for the UK's automotive supply chain and the wider car industry".

He said it showed what was "in store if the UK crashes out of the European Union without a deal that secures tariff free frictionless trade"

The firm said: "The uncertainty surrounding Brexit was one factor amongst others in the analysis of the UK market."

Llanelli MP Nia Griffith said: "I am worried obviously about the affect on families in the area... and the possible knock-on affect on other local businesses.

"It is important to try to offer the company any help to try to persuade them to change their minds."

She said Llanelli AM Lee Waters had already been talking to the Welsh economy secretary Ken Skates to see what was possible.

Luke Pollard, MP for Plymouth Sutton, said the closure was "deeply worrying" and showed the "uncertainty of the hard Brexit".

"We need to be in a customs union, close to the single market or we will lose even more jobs," he added.

Johnny Mercer, the MP for Plymouth Moor View, said the closure was a "short-sighted mistake" by Schaeffler.

Speaking about the possible impact on Llanelli, Councillor Deryk Cundy who represents Bynea, said the loss of "well-paid" jobs would be a massive blow.

"It will also affect Carmarthenshire and wider. We will need to form a taskforce. [We need] to persuade Schaeffler to rethink their decision," he said.

  • Jones 'troubled' by Ford Brexit warning
  • Brexit worries 'hit Channel ferry bookings'
  • What would no-deal Brexit mean for UK business?

Greig Littlefair, managing director of Schaeffler UK, said the firm wanted "transparent and fair discussions with the employees affected".

Schaeffler, which employs more than 1,000 people at five facilities in the UK, will not be closing its largest plant in Sheffield.

It is anticipated the UK reorganisation will take up to two years to implement.

Juergen Ziegler, regional CEO Europe at Schaeffler, said: "Brexit is clearly not the single decisive factor behind our decision-making for the UK market, but the need to plan for various complex scenarios has brought forward the timing."

7 November 2018

Sales Growth Despite Difficult Market Conditions & Margins

2018-11-07 | Herzogenaurach, Germany

  • Revenue grows 5.1 percent at constant currency in the first nine months
  • EBIT margin before special items for the same period at 10.7 percent (prior year: 11.4 percent)
  • Performance declines in both Automotive divisions, Industrial division business remains strong
  • Free cash flow before in- and outflows for M&A activities of 127 million euros below prior year (247 million euros)
  • Increased focus on discipline regarding cost and capital

Global automotive and industrial supplier Schaeffler presented its interim report for the first nine months of 2018 today. The Schaeffler Group's revenue for the reporting period amounted to approximately 10.7 billion euros (prior year: approximately 10.5 billion euros). At constant currency, revenue increased by 5.1 percent during the period, 3.7 percent in the third quarter. As was the case for the first half of 2018, all three divisions and all four regions contributed to the group's revenue growth at constant currency during the first nine months, with the Greater China region once more reporting the largest revenue constant currency growth rate of 14.3 percent.

The Schaeffler Group generated earnings before financial result and income taxes (EBIT) before special items of 1,150 million euros (prior year: 1,196 million euros) in the first nine months. This represents an EBIT margin before special items of 10.7 percent (prior year: 11.4 percent). EBIT before special items for the third quarter was 355 million euros (prior year: 416 million euros), representing an EBIT margin before special items of 10.1 percent (prior year: 12.1 percent).

Net income attributable to shareholders for the reporting period was 766 million euros, nearly on par with the prior year level (of 791 million euros). Earnings per common non-voting share were 1.16 euros (prior year: 1.19 euros).

Klaus Rosenfeld, CEO of Schaeffler AG, commented on the performance of the business in the first nine months and in the third quarter: "The third quarter has once again demonstrated how important it is for us to be an automotive as well as an industrial supplier. While our Automotive OEM business is affected by the weak market trend in China, our Industrial business continued to do well during the third quarter. This division grew its revenue grew faster than the market and generated an EBIT margin before special items of 12.1 percent."

Automotive OEM revenue growth less dynamic due to market conditions

The Automotive OEM division generated approximately 6.8 billion euros (prior year: approximately 6.7 billion euros) in revenue during the reporting period. At constant currency, revenue increased by 4.3 percent compared to the prior year, a growth rate 3.5 percentage points above the 0.8 percent average growth in production volumes of passenger cars and light commercial vehicles for the reporting period. Following the encouraging revenue trend in the first six months, the Automotive OEM division reported less dynamic revenue growth of 3.2 percent in the third quarter due to the persistently challenging environment in the automotive sector. In the third quarter, which saw global automobile production decline by 2 percent, outperformance amounted to 5.2 percentage points.

The lower growth rate was mainly attributable to weaker demand in the Europe and Greater China regions. In Europe, this weaker demand was mainly due to production delays resulting from the changeover to the new WLTP emissions standard, while China felt the effect of consumer restraint due to the trade conflict with the U.S. and stricter lending practices. All four of the Automotive OEM division's business divisions contributed to its revenue growth on a nine months basis, with the E-Mobility business division once more reporting the highest revenue growth rate at constant currency, 13.6 percent. Despite the less dynamic growth of the Automotive OEM division's revenue in the Greater China region in the third quarter, this region still showed the highest growth rate of 9.5 percent, followed by 5.7 percent in the Americas region, 2.4 percent in Asia/Pacific, and 2.2 percent in Europe.

The division generated 596 million euros (prior year: 712 million euros) in EBIT before special items in the first nine months, bringing the EBIT margin before special items for the same period to 8.8 percent, less than the prior year margin of 10.7 percent. The decrease was primarily attributable to ramp-up costs, project delays in China, increased production costs – due to factors including increased raw materials prices – and the impact of the revenue mix. According to the latest full-year guidance for 2018 issued October 30, 2018, the division aims to achieve constant currency revenue growth of 3.5 to 4.5 percent (previously: 4.5 to 5.5 percent) and an EBIT margin before special items of 8 to 8.5 percent (previously: 8.5 to 9.5 percent).

Automotive Aftermarket revenue drops temporarily in the third quarter

Following a solid first six months overall, the Automotive Aftermarket division reported a drop in revenue for the third quarter compared to the prior year quarter. At constant currency, revenue declined by 3.0 percent. Based on the first nine months of 2018, the division expanded its revenue by 1.3 percent at constant currency, generating 1,401 million euros in revenue (prior year: 1,434 million euros). The decrease in third-quarter revenue was primarily attributable to strong growth in the Europe and Americas regions in the prior year quarter. As was the case for the first six months, the Greater China (39.0 percent) and Asia/Pacific (16.0 percent) regions reported the strongest constant currency revenue growth for the first nine months, followed by Europe (1.9 percent). Revenue in the Americas region on an adjusted basis declined (by 8 percent) due to non-recurring additional requirements of an Original Equipment Services (OES) customer in the prior year period.

The Automotive Aftermarket division's EBIT before special items for the first nine months amounted to 256 million euros (prior year: 278 million euros). Based on this EBIT, the EBIT margin before special items was 18.3 percent (prior year: 19.4 percent). Reasons for the decline from prior year include temporarily higher costs of selling and logistics activities. Based on the adjusted full-year guidance issued October 30, 2018, the group now expects revenue growth for the Automotive Aftermarket division of 1.5 to 2.5 percent (previously: 3 to 4 percent) at constant currency and an EBIT margin before special items of 17 to 17.5 percent (previously: 16.5 to 17.5 percent) in 2018.

Performance of Industrial business remains encouraging in the third quarter

During the third quarter, the Industrial division significantly increased its revenue to 854 million euros (prior year: 790 million euros), which represents an increase of 9.4 percent at constant currency. This increase brought revenue for the first nine months of 2018 to approximately 2.5 billion euros (prior year: approximately 2.4 billion euros). At constant currency, revenue growth for the reporting period amounted to 9.8 percent and was primarily driven by Industrial Distribution. The double-digit constant currency revenue growth rates generated by the raw materials, power transmission, railway, and offroad sector clusters contributed considerably to the higher revenue as well. Like all of the sectors, all of the regions increased their revenue, as well. The largest growth rate at constant currency was reported by the Greater China region (29.4 percent), ahead of Asia/Pacific (8.7 percent), Americas (8 percent), and Europe (6 percent).

The Industrial division generated 298 million euros (prior year: 206 million euros) in EBIT before special items for the first nine months, representing an EBIT margin before special items of 11.8 percent (prior year: 8.7 percent). The improved margin is attributable to the favorable impact of economies of scale as well as to efficiency gains and cost savings resulting from the program "CORE". On October 30, 2018, the Schaeffler Group confirmed its full-year guidance for the Industrial division's constant currency revenue growth for 2018, which it had raised on September 19, 2018, of 8 to 9 percent. The target for the EBIT margin before special items of 10 to 11 percent has now been refined to 10.5 to 11 percent.

Positive free cash flow in the third quarter

At 201 million euros (prior year: 333 million euros), free cash flow before in and outflows for M&A activities for the third quarter was positive. For the first nine months, it amounted to 127 million euros, falling short of the prior year level (247 million euros), primarily due to lower earnings quality and the higher amount of capital tied up in inventories. Capital expenditures (capex) on property, plant and equipment and intangible assets for the first nine months of 857 million euros were slightly below the prior year level (873 million euros), representing a capex ratio of 8 percent of revenue (prior year: 8.3 percent).

Dietmar Heinrich, CFO of Schaeffler AG, said: "We are aiming to maintain a capex ratio of approximately 8 percent as at year-end as well. For this purpose, we will manage our capital expenditures restrictively in the fourth quarter. In combination with the reduction of inventory levels, this will have a favorable effect on free cash flow".

Net financial debt as at September 30, 2018, increased by 274 million euros to 2,644 million euros, lowering the gearing ratio, i.e. the ratio of net financial debt to shareholders' equity, to 91 percent (December 31, 2017: 93 percent). As at September 30, 2018, the Schaeffler Group had total assets of approximately 12.3 billion euros (prior year: approximately 11.5 billion euros) and employed a workforce of 92,836 (prior year: 89,359), an increase of approximately 3.9 percent.

Based on the adjusted full-year guidance issued October 30, 2018, the Schaeffler Group now anticipates revenue growth of 4 to 5 percent (previously 5 to 6 percent) at constant currency, an EBIT margin before special items of 9.5 to 10.5 percent (previously 10.5 to 11.5 percent), and free cash flow before cash in- and outflows for M&A activities of approximately 300 million euros (previously approximately 450 million euros).

"The situation of the global automotive industry has deteriorated further over the past seven weeks, particularly in China and also in Europe. Against this backdrop, and although our Industrial business enables us to partially offset this deterioration, it is essential that we manage our business as proactively and carefully as possible and align our resources with the changing market environment. Discipline regarding cost and capital is what counts now", stated Klaus Rosenfeld.

4 November 2018

Schaeffler Adjusts 2018 Full-year Guidance

Global Bearing manufacturer Schaeffler AG Germany has decided to adjust its 2018 full year, aimed particular to Automotive division programs. We believe this is prudent as many new ideas are arising making specific manufacturing difficult to forecast especially when 'electric vehicles' finally hit the road.

The new confronting challenge, who is making what and the public perception to various brands now that Dyson UK announced its big electric car production based in Singapore. Schaeffler's guidance is recognition to other non bearing manufacturers the change has arrived

2018-10-30 | Herzogenaurach Germany
Schaeffler AG, Herzogenaurach (ISIN DE000SHA0159, WKN SHA015) has decided to adjust its full year 2018 guidance for the Schaeffler Group as a whole and for its Automotive OEM and Automotive Aftermarket divisions. Against the background of increasing market volatility in the global automotive business (WLTP, trade conflicts), the adjustment of the full year 2018 Group guidance is mainly triggered by a further deterioration of market conditions in the company's Automotive OEM business in China. Furthermore, weaker-than-expected third-quarter sales performance in its Automotive Aftermarket division contributed to the guidance change.



Based on preliminary figures, the Schaeffler Group generated revenues of EUR 3,521 million (prior year: EUR 3,434 million) and third-quarter earnings before financial result and income taxes (EBIT) of EUR 376 million (prior year: EUR 416 million). In the third quarter, the Group's revenues grew 3.7 percent at constant currency. On this basis, revenues for the first nine months of the year were EUR 10,714 million (prior year: EUR 10,480 million), corresponding to growth of 5.1 percent at constant currency. The Group's EBIT before special items in the third quarter 2018 was EUR 355 million (prior year EUR 416 million) and EUR 1,150 million (prior year: EUR 1,196 million) for the first nine month, corresponding to an EBIT margin before special items in the third quarter of 10.1 percent (prior year 12.1 %) and of 10.7 percent (prior year: 11.4 percent) for the first nine months. The Schaeffler Group's free cash flow before inflows and outflows for M&A activities reached EUR 201 million (prior year EUR 333 million) and EUR 127 million in the first nine months, which is attributable primarily to lower earnings quality and the higher level of capital tied up in inventories. The third-quarter and nine-month results for the Group's three divisions are as follows:

Table Division (preliminary figures)

On the basis of preliminary figures, Schaeffler is now guiding for 2018 full-year revenue growth of 4 to 5 percent at constant currency (previously 5 to 6 percent), an EBIT margin before special items of 9.5 to 10.5 percent (previously 10.5 to 11.5 percent), and free cash flow before inflows and outflows for M&A activities of approximately EUR 300 million (previously approximately EUR 450 million)


https://www.schaeffler.com/content.schaeffler.com/en/news_media/press_office/ press_releases/press_releases_detail.jsp?id=85042050
2 November 2018

Australian Exports Hit Record High Despite Slowing Chinese Economy


PHOTO: A surge in profitability in steel mills is a bright spot in Chinese manufacturing. (Reuters/China Daily)

Australia's export boom has hit a new high despite mounting evidence the pulse in China's industrial heartland is weakening.

The trade surplus jumped to $3 billion in September, thanks to a large leg-up from the already-healthy August surplus being revised up from $1.6 billion to $2.3 billion.

It is the third-largest surplus since the Australian Bureau of Statistics started compiling the data in 1971.

Exports rose by 1 per cent to a record $37.5 billion, while imports fell 1 per cent to $34.5 billion.

RELATED STORY: China's economy slows to levels not seen since the GFC
RELATED STORY: Trade war masks a bigger problem in China's slowing economy
RELATED STORY: Ghost cities and a 'mountain of debt': China has bigger problems than a trade war

The exporters benefited from both strong prices — up almost 4 per cent over the September quarter — and higher volumes of goods being shipped out.

30 October 2018

Timken USA Great 3rd Qtr 2018 Financials

The Timken Company USA has handed another great result 3rd Qtr 2018 confirming the global Bearing Industry is in top Health & Wealth condition

Timken a household name for quality products worldwide, has the ability to further increase numbers for the next 3 years illustrating to stakeholders the strength of growth with century aged experience

Timken Reports Strong Third-Quarter 2018 Results; Raises Full-Year Earnings Outlook

- Posted sales of $881 million, up 14 percent from last year
- Reported earnings per diluted share of $0.91 on a GAAP basis, with record third quarter adjusted earnings per diluted share of $1.06
- Generated strong cash from operations of $137 million and free cash flow of $114 million in the quarter
- Raises 2018 earnings outlook; now expects 2018 GAAP earnings per diluted share of $3.98 to $4.03 and adjusted earnings per diluted share of $4.18 to $4.2311

NORTH CANTON, Ohio, Oct. 29, 2018 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and power transmission products, today reported third-quarter 2018 sales of $881.3 million, up 14.2 percent from the same period a year ago. The increase was driven by continued growth across most end markets, as well as the favorable impact of pricing and acquisitions, partially offset by unfavorable currency.

In the third quarter, Timken posted net income of $71.6 million or $0.91 per diluted share, versus net income of $53.5 million or $0.68 per diluted share for the same period a year ago. The year-over-year improvement was driven by higher volume, favorable price/mix and the impact of acquisitions, partially offset by higher material and logistics costs including tariffs. The current period also included higher pension- and acquisition-related charges.

Excluding special items (detailed in the attached tables), adjusted net income in the third quarter of 2018 was $82.9 million or $1.06 per diluted share, an earnings per share record for the third quarter, versus adjusted net income of $55.9 million or $0.71 per diluted share for the same period in 2017. Cash from operations for the quarter was $137.1 million, and free cash flow was $113.9 million.

"We posted another outstanding quarter," said Richard G. Kyle, Timken president and chief executive officer. "We generated double-digit top-line growth, expanded operating margins despite tariff and other cost headwinds and delivered a nearly 50 percent increase in adjusted earnings per share. Our recent acquisitions are off to a good start, and organically, we are doing an excellent job of serving our customers' needs while pursuing profitable growth opportunities."

During the quarter, the company:

  • Completed the previously-announced acquisitions of Cone Drive, Rollon Group, and ABC Bearings, which add new and complementary products, capabilities and customers to the Timken portfolio,
  • Priced a public offering of $400 million of 10-Year Senior Unsecured Notes at an interest rate of 4.50 percent, with the proceeds used to fund the acquisitions of Cone Drive and Rollon Group, and
  • Returned $35 million in capital to shareholders with the payment of its 385th consecutive quarterly dividend and the repurchase of 300,000 shares, bringing full-year share repurchases up to 1.4 million shares.

Third-Quarter 2018 Segment Results
Mobile Industries reported sales of $464.2 million, up 9.8 percent compared with the same period a year ago, driven primarily by growth in the aerospace, automotive, off-highway and heavy truck sectors, partially offset by unfavorable currency.

Earnings before interest and taxes (EBIT) in the quarter were $50.6 million or 10.9 percent of sales, compared with EBIT of $35 million or 8.3 percent of sales for the same period a year ago. The increase in EBIT reflects the impact of higher volume and favorable price/mix, partially offset by higher material and logistics costs.

Excluding special items (detailed in the attached tables), adjusted EBIT in the quarter was $52.5 million or 11.3 percent of sales, compared with $37.7 million or 8.9 percent of sales in the third quarter last year.

Process Industries sales of $417.1 million increased 19.7 percent from the same period a year ago, driven by broad growth across all sectors, as well as the favorable impact of pricing and acquisitions, partially offset by unfavorable currency.

EBIT for the quarter was $81.8 million or 19.6 percent of sales, compared with EBIT of $61.7 million or 17.7 percent of sales for the same period a year ago. The increase in EBIT was driven by higher volume and favorable price/mix, partially offset by higher material and logistics costs including tariffs, as well as increased selling, general and administrative expenses.

Excluding special items (detailed in the attached tables), adjusted EBIT in the quarter was $84 million or 20.1 percent of sales, compared with $61.7 million or 17.7 percent of sales in the third quarter last year.

2018 Outlook
"Looking ahead to the fourth quarter, our markets remain strong, and we continue to execute well and advance the company's strategy," said Kyle. "As a result, we have modestly increased our earnings outlook for the year, and we are planning for our strong execution and positive market momentum to carry into 2019."

The company expects 2018 revenue to be up approximately 19.5 percent in total versus 2017. This includes expected organic growth of approximately 14 percent plus the benefit of acquisitions, including the recently completed ABC Bearings, Cone Drive and Rollon Group acquisitions. Within its segments, the company estimates for full-year 2018:

  • Mobile Industries sales to be up approximately 16 percent, driven primarily by broad growth across all sectors, led by off-highway, rail and heavy truck, as well as the benefit of acquisitions, and
  • Process Industries sales to be up approximately 24 percent, reflecting growth across the distribution, original equipment and services sectors, as well as the benefit of acquisitions.

Timken now anticipates 2018 earnings per diluted share of $3.98 to $4.03 for the full year on a GAAP basis. Excluding special items (detailed in the attached tables), the company expects record 2018 adjusted earnings per diluted share in the range of $4.18 to $4.23, which at the midpoint represents an increase of 60 percent from 2017.

Conference Call Information
Timken will host a conference call tomorrow at 9 a.m. Eastern Time to review its financial results. Presentation materials will be available online in advance of the call for interested investors and securities analysts.

Conference Call:
Tuesday, October 30, 2018

9 a.m. Eastern Time

Live Dial-In: 800-239-9838

or 323-794-2551

(Call in 10 minutes prior to be included.)

Conference ID: Timken's 3Q Earnings Call


Conference Call Replay:
Replay Dial-In available through

November 13, 2018:

888-203-1112 or 719-457-0820

Replay Passcode: 7829565


Live Webcast:

Please view link below for full financials as submitted by The Timken Company:
http://news.timken.com/2018-10-29-Timken-Reports-Strong-Third-Quarter-2018-Results-Raises-Full-Year-Earnings-Outlook

26 October 2018

SKF Highest Ever Profit & Growth 3rd Qtr 2018

Boom times and record numbers for Sweden's SKF Group states President & CEO Alrik Danielson

SKF continued 2018 with strong organic sales growth in 2nd quarter to 3rd quarter levels never seen before, a true sign of wealth, sound management & operations headed at SKF Sweden for global outcomes. The 4th quarter SKF forecast to complete 2018 year appears most promising

SKF Nine-month report 2018

Gothenburg, Sweden 25 October 2018
Alrik Danielson, President and CEO:

"The third quarter developed as anticipated, with continued growth in both our industrial and automotive businesses. Sales grew organically by 7%, to stand at SEK 21.3 billlion. Our operating profit was SEK 2.6 billion, 0.6 billion higher than last year and the highest operating profit we have ever recorded in a third quarter.

Cash flow was SEK 1.6 billion, compared to SEK 0.7 billion the previous year. This was supported by our continued efforts to reduce finished goods inventories, whilst maintaining good customer service levels.

The industrial business continues its strong performance, with an operating margin of 14% and organic growth of 9%. We saw significantly higher sales volumes in our three largest regions: Europe, North America and Asia, driven by continued broad-based investments and activities in most of the industries in which we operate.

The automotive business delivered an operating margin of 7%. Despite a drop in European car sales, resulting from the implementation of new test cycles (WLTP) and a slow-down in truck sales in Asia the business delivered an organic sales growth of 2% in the quarter.

At the end of July we announced the divestment of our linear and actuation business for a total consideration of SEK 2.75 billion. The deal is expected to close during the fourth quarter. Following a total of eight divestments in the past three years, we have strengthened our financial position and focused our business portfolio. We continue to invest in research and development with a number of new market offerings being launched in the coming months, including solutions for the rail, food and beverage and agriculture industries.

Entering the fourth quarter of 2018, we expect to see higher demand within industrial and slightly lower demand within automotive."

Key figures, SEKm Q3 2018 Q3 2017 Jan-Sep 2018 Jan-Sep 2017
Net sales 21,341 18,627 64,521 58,457
Operating profit 2,597 1,965 8,147 6,575
Operating margin, % 12.2 10.5 12.6 11.2
Profit before taxes 2,344 1,692 7,552 5,874
Net cash flow after investments before financing 1,626 681 4,067 3,049
Basic earnings per share 3.35 2.29 11.37 7.89


Net sales change y-o-y, %, Q3 Organic Structure Currency Total
SKF Group 6.9 -0.1 7.8 14.6
Industrial 9.2 -0.1 8.4 17.5
Automotive 1.7 0.0 6.1 7.8


Net sales change y-o-y, %, Jan-Sep 2018 Organic Structure Currency Total
SKF Group 7.9 -0.5 3.0 10.4
Industrial 9.6 -0.7 3.4 12.3
Automotive 4.0 0.0 2.1 6.1


Organic sales change in local
currencies, per region y-o-y, %, Q3
Europe North America Latin America Asia Middle East & Africa
SKF Group 6.0 8.2 -0.1 11.2 -10.0
Industrial +++ +++ +/- +++ --
Automotive +/- ++ +/- + ---


Organic sales change in local
currencies, per region y-o-y, %, Jan-Sep 2018
Europe North America Latin America Asia Middle East & Africa
SKF Group 7.5 5.6 -1.1 13.9 2.9
Industrial +++ + - +++ +
Automotive +/- ++ +/- +++ ---


Outlook and guidance

Demand for Q4 2018 compared to Q4 2017
The demand for SKF's products and services is expected to be slightly higher for the Group, including higher demand for Industrial and slightly lower demand for Automotive. Demand is expected to be significantly higher in North America, higher in Asia, relatively unchanged in Europe and slightly higher in Latin America.

Guidance Q4 2018
  • Financial net: SEK -225 million
  • Currency impact on the operating profit is expected to be relatively unchanged compared with 2017, based on exchange rates per 30 September 2018
Guidance 2018
  • Tax level excluding effect related to divested businesses: around 28%
  • Additions to property, plant and equipment: around SEK 2,600 million. Previous guidance around SEK 2,400 million.

The information in this press release is information which AB SKF is required to disclose under the EU Market Abuse Regulation (EU) No 596/2014 The information was provided by the above contact persons for publication on 25 October 2018 at 13:00. ® SKF is a registered trademark of the SKF Group.

http://www.skf.com/group/news-and-media/news-search/2018-Oct-25-SKF-Nine-month-report-2018-3097230.html

21 October 2018

NSK Bearings Enhance Offshore Wind Turbines

NSK design strategies enhance performance of offshore wind turbines

 

Two key factors are demanded of bearings used in wind energy systems: high performance and high service life under harsh conditions. This observation is especially the case in the offshore segment, where the capacities of wind turbines are still increasing. As a result, NSK recently commenced the manufacture of bearings for 9.5 MW turbines and is already developing bearings for offshore turbines in the 12 MW class.

However, it is not just the performance capabilities that place high demands on wind turbine bearings. At sea, because of high wind speeds, even stronger static and dynamic loads act on the rotors and, consequently, the whole drive train. In onshore wind turbines, the main bearings undergo loads of up to 1 MN; in the case of offshore turbines, it is even more.

Service life expectations rise
Increasing demands are being placed on the operating lifespan of bearings for wind turbines. For onshore turbines, manufacturers traditionally specified that bearings must be designed for a service life of 175,000 hours, which is equivalent to 20 years. However, as a result of the high investment costs and difficulty in accessing offshore wind energy systems, a service life of 25 years is specified, which is a major challenge considering the extremely high dynamic loads.

Main bearings
These loads clearly have an influence on the choice of bearings. In direct-drive wind turbines, double-row tapered roller bearings are increasingly being chosen as the main bearing. Compared with cylindrical roller bearings, which were commonly specified in the past, tapered roller bearings offer the advantage of adjustable pre-load, which makes it possible to achieve higher system rigidity. Such bearings have inner diameters of up to 2.7 m, which challenges even state-of-the-art design and manufacturing concepts.

In the case of geared systems, the weight of the additional drive components is compensated by the fact that the generator can have a smaller design. There are different design concepts for the main rotor bearing in each power capacity class. Systems up to 5 MW usually employ spherical roller bearings, while for 6 MW and higher, the preference is for arrangements with two tapered roller bearings, or double-row tapered roller bearings combined with a cylindrical roller bearing.

Integrated bearings
In geared drive trains, gearboxes with two or three-stage planetary stages are common nowadays. Often these planetary stages are combined with a helical gear stage. For several years, the trend has been towards using so-called integrated planetary gears. For this application, NSK has developed (in close co-operation with the gear manufacturer) multi-row tapered and cylinder roller bearings without an outer ring. Thus, the bore of the planet wheels is used as the outer raceway of the bearing.

In some applications, four-row integrated cylindrical roller bearings are used. In combination with four planets per stage, one set of bearings includes a total of 16 rows. To obtain an even load on all bearings, the bore and circumscribed diameters for the whole set have very tight tolerances.

Another trend is to source all the bearings for a turbine from a single supplier. This market tendency was one of the specific reasons why NSK decided to expand the product portfolio of its Wind Business Unit, although the company has already been developing and manufacturing various types of bearings for gearboxes and generators for 20 years.

Researching WEC (white etching cracks)
Due to the size of the bearings required for offshore wind turbines and difficult accessibility, the wind industry is obviously very sensitive to bearing damage. Technical expertise makes it possible to overcome almost all typical forms of damage to bearings. For example, advanced design methods in combination with high levels of steel purity ensure that classical bearing fatigue failures have been practically eliminated in wind turbine bearings.

One area that the bearing industry is still researching, however, is WEC (white etching cracks). These cracks are signs of bearing damage that appear relatively early in the bearing's service life. Typical damage symptoms are white structures beneath the raceway (hence the name) that lead to the formation of cracks and, ultimately, bearing failure.

The precise cause of WEC was unknown for a long time, and although a series of experiments has since shown that this defect is most likely caused by hydrogen penetration, the origin of the hydrogen has still not been fully explained.

Further research works hint that hydrogen generation occurs during operation. The initial supposition was that the hydrogen was coming from the hydrocarbon chains of lubricants and their additives; a theory that was substantiated after typical damage symptoms were able to be reproduced in a laboratory with certain types of oils and greases.

As a consequence, NSK developed a new material that demonstrates higher resistance to hydrogen penetration and the formation of cracks caused by hydrogen embrittlement. While laboratory tests have been successfully completed, bearings made of this material are currently undergoing field trials.

Applying condition monitoring
As a result of the fail-safe characteristics and long service life requirements, the bearings in wind energy systems are ideal candidates for condition monitoring systems (CMS), which use externally mounted or integrated sensors to continuously monitor the state of the bearing. Anomalies that indicate damage to the bearings can be detected and reported in a timely manner.

Modern-day CMS are deployed by offshore wind farms to detect abnormalities sufficiently early to allow the maintenance cycle of the system to be planned accordingly. NSK anticipates significant market potential for this type of system.


NSK has offered an extensive portfolio of wind turbine bearings for over 20 years


Major trend in wind turbine industry is the integration of planetary gear stages, multi-row bearings
https://www.nskeurope.com/nsk-offshore-wind-turbines-4562.htm

17 October 2018

NTN Canada Welcomes PM Justin Trudeau

Prime Minister of Canada, Justin Trudeau attends 50th Anniversary Celebration of NTN Bearing Corporation of Canada


Congratulatory speech by the
Right Honorable Justin Trudeau
 

President Ohkubo presents a bouquet to
Ms. McCallion, the former Mayor of Mississauga

Justin Trudeau, Prime Minister of Canada recently attended NTN Bearing Corp. of Canada Ltd commemorative ceremony celebrating the 50th anniversary of its operations in Toronto, Ontario, Canada

Over 200 people gathered to celebrate this milestone, which also marked the 100th anniversary of NTN Corporation (hereafter, NTN)'s founding as a global brand. Special guests in attendance included Chancellor Hazel McCallion, the former Mayor of Mississauga, Hiroshi Ohkubo, President, NTN, and Yoshinori Terasaka, Managing Director, along with NTN's customers, distributors and industry partners

"NTN is a leading example of a long standing Japanese manufacturer in Mississauga that continues to introduce new innovative products to Canada," said McCallion adding that "the 100th anniversary of NTN's founding is a tremendous milestone achieved in the competitive world of global business."

Prime Minister Trudeau addressed the audience recognizing the contributions NTN Corporation has made to the community and acknowledged NTN as a great example of global success and international investment in trade

President Ohkubo delivered a speech expressing gratitude to NTN Canada's customers for their continued patronage and support. President Ohkubo also reinforced NTN's commitment to future development stating "NTN remains committed to growing the Canadian economy and continuing our tradition of introducing new innovative bearing products to Canada."

NTN Canada was established in Canada in 1968 to help support local sales of NTN bearings in the Canadian market. NTN Canada's manufacturing operations commenced in 1973 and throughout the last five decades, NTN has continued to increase its production volume adding production capacity and expanding its distribution facilities in Canada

Going forward, NTN plans to continue to contribute to local communities and grow its global sales by expanding local procurement and production in adherence to its vision of using "local sites with local material by local personnel"

https://www.ntnglobal.com/en/news/press/news201800098.html

Overview of NTN Canada

(1) Company Name NTN BEARING CORP. OF CANADA LTD.
(2) Line of Business Manufacture of bearings and sales of bearings, driveshaft and precision equipment
(3) Location Mississauga, Ontario
(4) Capital 20,100,000 CAD
(5) Site Area Approximately 61,500m2
(6) Total Floor area Approximately 25,000m2
(7) Employee Approximately 250 employees
 
12 October 2018

LIEBHERR Bearings Introduces Intelligent Assistance Component Identification

LIEBHERR SWITZERLAND WORLDWIDE INTRODUCTION

Liebherr started to focus on International business and established companies outside Germany at the end of the 1950s. The Liebherr Group now comprises over 130 companies in more than 50 countries on every continent

https://www.liebherr.com/en/aus/about-liebherr/liebherr.../liebherr-in-switzerland.html


https://en.wikipedia.org/wiki/Liebherr_Group

Announcement: 12 October 2018 Switzerland
LIEBHERR Introduces Intelligent Assistance System Component Identification

The Smart Klaus - new technology for component identification at Liebherr
Increased efficiency in component reconditioning: identification turnaround times reduced by over 50 percent, increased productivity and secure identification of parts

A diagnostics staff member in the Components Division of Liebherr in Ettlingen (Germany) has made a splash with the Smart Klaus: The optical detection solution correctly identifies individual parts within seconds, thereby significantly increasing efficiency.


Andreas Just and the Smart Klaus at work: Part successfully recognised

At Liebherr-Ettlingen GmbH, the Reman competence centre of the Liebherr Group, precise individual identification of used parts is an important building block of business activity. The factory specializes in the remanufacturing of used drive components such as engines, gearboxes and hydraulic components. They are overhauled, repaired or assembled with exchange components or assemblies from parts in stock.

Every day, apart from other components, up to seven worn-out diesel engines of excavators, wheel loaders, mobile cranes or other construction vehicles are delivered to the yard in Ettlingen. Mechanics dismantle them and the recyclable items are washed, stripped, de-rusted, then diagnosed, provided with the correct identification number and finally stored systematically in a high-bay warehouse.

By now, the parts of the returned and dismantled components have to be identified using drawings and manual measurements, and this has been very time-consuming. "This means up to 100 parts or more per engine, which need to be identified" explains Andreas Just. With over 600 engine variants in the portfolio, the number of different individual parts is enormous. Although the mechanics recognise some of them at a glance, in many cases however, they have to examine the design drawings very closely and to compare each detail. "It sometimes takes four to five minutes," explained Just, "especially for pipes with different bends and lengths or for complex parts with different bores." This requires looking very carefully and measuring to avoid any confusion, because otherwise the part does not fit when assembling an exchange engine. This is exhausting, excruciating work because any part incorrectly stored with the wrong identification number can lead to delays in assembly and endanger rapid processing times.

This had long been a source of frustration for Andreas Just. He, therefore, looked specifically for an optical detection solution. And he found one in the Smart Klaus of the company Optimum datamanagement solutions GmbH from Karlsruhe (Germany). He immediately saw that the Smart Klaus drastically reduces throughput times - by more than 50 percent -, increases productivity, provides security in identification and frees up time for highly skilled work.

At Liebherr-Ettlingen GmbH, the Reman competence centre of the Liebherr Group, precise individual identification of used parts is an important building block of business activity. The factory specializes in the remanufacturing of used drive components such as engines, gearboxes and hydraulic components. They are overhauled, repaired or assembled with exchange components or assemblies from parts in stock.

https://www.liebherr.com/en/can/latest-news/news-press-releases/detail/the-largest-roller-bearing-slewing-ring-liebherr-delivers-a-bearing-with-diameter-of-ten-meters.html

6 October 2018

Schaeffler AG Re-Appoints CEO Klaus Rosenfeld Further 5 years

In a sign of Stability and Growth, Germany's global bearing manufacturer Schaeffler Group AG re-appoints Klaus Rosenfeld as CEO for another 5 years. Earlier this year, Mr Rosenfeld together with German Chancellor Angela Merkel met with US President Trump and Congress for US - German Commerce discussions resulting in upgrading the existing business relationship



Klaus Rosenfeld joined the Schaeffler Group as Chief Financial Officer in 2009. He was appointed Chief Executive Officer of Schaeffler AG in June 2014 and oversaw the company's IPO in October 2015. By implementing the strategy "Mobility for tomorrow" and the related future program "Agenda 4 plus One", he is successfully driving forward the transformation of the Schaeffler Group

Herzogenaurach GERMANY

At its meeting today, the Supervisory Board of Schaeffler AG decided to renew the contract of Klaus Rosenfeld (52), the incumbent Chief Executive Officer of Schaeffler AG, for a further five years, to June 30, 2024

Georg F. W. Schaeffler, Chairman of the Supervisory Board of Schaeffler AG: "Klaus Rosenfeld is taking the Schaeffler Group forward successfully in these times of great challenge and change. He is a model of dedication and commitment. Since taking over as Chief Executive Officer in 2014, he has initiated the necessary transformation of the Schaeffler Group and opened the company up for the capital markets.

Moreover, by instituting our ‘Mobility for tomorrow' strategy and our ‘Agenda 4 plus One' program, he has laid the foundations for our company's future. We are very pleased that he is available to serve as CEO for further five years and thus continue the successful work that he has undertaken for us over the past years. On behalf of everyone on the Supervisory Board I would like to wish Mr. Rosenfeld and the entire Board of Managing Directors all the very best and every success in mastering the tasks that lie ahead of us."

Forward-looking statements and projections:

https://www.schaeffler.com/content.schaeffler.com/en/news_media/press_office/ press_releases/press_releases_detail.jsp?id=84586882


3 October 2018

NTN Acquires Japans Precision Producer 'Hakui Maruzen'

NTN Corporation has acquired all outstanding shares (excluding treasury shares) of Hakui Maruzen Co., Ltd. JAPAN (Headquarter: Ishikawa Prefecture, President: Mitoe Taira, hereafter, Hakui Maruzen) which manufactures forged products for bearings, connectors of casing pipe in oil-drilling, construction machineries, and other machines.


Hakui Maruzen, based in Noto region, Ishikawa Prefecture, has manufactured dimensionally-precise forged rings by utilizing own-developed rolling mills and molds and supplied them under the brand of "Taira Forging®" to customers in Japan and overseas. Especially, Hakui Maruzen has excellent forging technology called "near-net shape" which process the ring to near the shape of finished products in manufacturing special-shaped forged rings and its technology enables high competitiveness to reduce both environmental impact and cost. NTN has procured forged products of bearings for industrial machineries such as extra-large bearings over 2-meter diameter for wind turbine from Hakui Maruzen.

With this share acquisition, NTN will strengthen integrated bearing production system in Noto region as well as enhancing competitiveness of bearings for industrial machineries.

For the business of connectors of casing pipe in oil-drilling and construction machineries utilizing forging technology of Hakui Maruzen, NTN will take over them without any change in its spirit, know-how, nor sales method which have accumulated for 50 years since its foundation. We continue to enhance deal with customers to expand industrial machinery business.

1.Overview of Hakui Maruzen (as of October 1, 2018)

(1) Company Name Hakui Maruzen Co., Ltd.
(2) Location Chiyomachi, Hakui City, Ishikawa Prefecture
(3) Representative Executive Chairman Yoshinori Heda
President Mitoe Taira
(4) Line of Business Manufacturing and sales of forged products
(5) Capital 30 million yen
(6) Established 1968 (established as "Taira Forging Co., Ltd.")

Ring for Bearing

Ring for Idler

Base for Slewing Bearing

Forged Product for Connector

Bearing for Wind Turbine Main Shafts

Reference

NTN Integrated Production System in Noto Region, Ishikawa Prefecture

In Noto region, NTN has established NTN Hakui Corp., NTN Houdatsushimizu Corp., NTN Shika Corp., and NTN Noto Corp., since 2007. It is now one of our major manufacturing base for industrial machineries including bearings for wind turbine as well as Kuwana region. NTN has been enhancing competitiveness by establishing integrated production system in Noto region with initiatives such as establishment of new heat treatment plant in NTN Noto Corporation in 2017.



1 October 2018

Schaeffler Bearings Establishes Debt Issuance Program


Global automotive and industrial supplier Schaeffler today established a EUR 5.0 billion debt issuance programme, following approval of the corresponding base prospectus by the competent authority Commission de Surveillance du Secteur Financier (CSSF). The debt issuance programme provides Schaeffler with a flexible platform to obtain funding from the debt capital markets in the future.


The establishment of the debt issuance programme follows shortly after a rating upgrade by S&P to BBB-, which positions Schaeffler as investment grade company at all three major rating agencies. Subsequent to the upgrade, Schaeffler released all remaining security interests previously granted to secure its facilities agreement and existing bonds in accordance with the respective security release provisions.

The establishment of the debt issuance programme in connection with the security release allows Schaeffler to continue the development of its financing structure towards an unsecured investment grade financing structure and underpins Schaeffler's commitment to maintain its investment grade ratings in the long term.

Forward-looking statements and projections included: 2018-09-28 | Herzogenaurach GERMANY

https://www.schaeffler.com/content.schaeffler.com/en/news_media/press_office press_releases/press_releases_detail.jsp?id=84474305

BearingCode footnote: This announcement by Schaeffler Group is significant for future security matters, allowing scope to various business commitments according to the Boards discretion


24 September 2018

AI Has Strange New Muse: Our Sense of Smell

ARTIFICIAL INTELLIGENCE HAS A STRANGE NEW MUSE: OUR SENSE OF SMELL:


LIKE MOST INDUSTRIES, BEARING COMMUNICATION IS SOMEWHAT AWASH WITH AI, IN NEED OF LEGAL INTERPRETATION PARTICULARLY WHEN AI IS PRACTICED AT HOME SPORT AND BUSINESS. HOWEVER, TO MAKE THE MEANING MORE TWISTED TRY AI TO REEK HAVOC IN THE SENSE OF SMELL AND MAY MAKE ENGINEERING & LUBRICATION A GOOD NEWS SNIFF



ABOUT
Original story reprinted with permission from Quanta Magazine, an editorially independent publication of the Simons Foundation whose mission is to enhance public understanding of science by covering research developments and trends in mathematics and the physical and life sciences.

 

Today's artificial intelligence systems, including the artificial neural networks broadly inspired by the neurons and connections of the nervous system, perform wonderfully at tasks with known constraints. They also tend to require a lot of computational power and vast quantities of training data. That all serves to make them great at playing chess or Go, at detecting if there's a car in an image, at differentiating between depictions of cats and dogs. "But they are rather pathetic at composing music or writing short stories," said Konrad Kording, a computational neuroscientist at the University of Pennsylvania. "They have great trouble reasoning meaningfully in the world."

To overcome those limitations, some research groups are turning back to the brain for fresh ideas. But a handful of them are choosing what may at first seem like an unlikely starting point: the sense of smell, or olfaction. Scientists trying to gain a better understanding of how organisms process chemical information have uncovered coding strategies that seem especially relevant to problems in AI. Moreover, olfactory circuits bear striking similarities to more complex brain regions that have been of interest in the quest to build better machines.

Computer scientists are now beginning to probe those findings in machine learning contexts.


Saket Navlakha, a computer scientist at the Salk Institute, has developed algorithms based on the fly olfactory circuit, in hopes of improving machine learning techniques for similarity searches and novelty detection tasks.

 

Flukes and Revolutions

State-of-the-art machine learning techniques used today were built at least in part to mimic the structure of the visual system, which is based on the hierarchical extraction of information. When the visual cortex receives sensory data, it first picks out small, well-defined features: edges, textures, colors, which involves spatial mapping. The neuroscientists David Hubel and Torsten Wiesel discovered in the 1950s and '60s that specific neurons in the visual system correspond to the equivalent of specific pixel locations in the retina, a finding for which they won a Nobel Prize.

As visual information gets passed along through layers of cortical neurons, details about edges and textures and colors come together to form increasingly abstract representations of the input: that the object is a human face, and that the identity of the face is Jane, for example. Every layer in the network helps the organism achieve that goal.

Deep neural networks were built to work in a similarly hierarchical way, leading to a revolution in machine learning and AI research. To teach these nets to recognize objects like faces, they are fed thousands of sample images. The system strengthens or weakens the connections between its artificial neurons to more accurately determine that a given collection of pixels forms the more abstract pattern of a face. With enough samples, it can recognize faces in new images and in contexts it hasn't seen before.

Researchers have had great success with these networks, not just in image classification but also in speech recognition, language translation and other machine learning applications. Still, "I like to think of deep nets as freight trains," said Charles Delahunt, a researcher at the Computational Neuroscience Center at the University of Washington. "They're very powerful, so long as you've got reasonably flat ground, where you can lay down tracks and have a huge infrastructure. But we know biological systems don't need all that — that they can handle difficult problems that deep nets can't right now."

Take a hot topic in AI: self-driving cars. As a car navigates a new environment in real time — an environment that's constantly changing, that's full of noise and ambiguity — deep learning techniques inspired by the visual system might fall short. Perhaps methods based loosely on vision, then, aren't the right way to go. That vision was such a dominant source of insight at all was partly incidental, "a historical fluke," said Adam Marblestone, a biophysicist at the Massachusetts Institute of Technology. It was the system that scientists understood best, with clear applications to image-based machine learning tasks.

https://www.wired.com/story/artificial-intelligence-has-a-strange-new-muse-our-sense-of-smell/

18 September 2018

NTN Work Clothes Renewed 1st Time 50 Years

NTN Bearing Group has decided a new look, new presentation & image for employees by modernizing work gear clothing, considered an environmental requirement to all Bearing manufacturers


In commemoration of the company's 100th anniversary, NTN will begin introducing new work clothes at its Japanese production and R&D bases from October 2018 in an aim to improve employee motivation

NTN Corporation (hereafter, NTN) celebrated its 100th anniversary on March 1, 2018. In commemoration of this outstanding milestone for the company, NTN has decided to renew its work clothes for the first time in 50 years. This will be done with the aim of improving employee motivation and satisfaction. The renewed work clothes are for employees at production and R&D bases in Japan. NTN will gradually start changing work clothes at each of its plants in Japan from October this year. The company plans to completely shift to the new uniform from April 2019 and approximately 6,000 NTN employees will wear the new look.

NTN decided to reconsider the appearance of its uniforms after the results of an employee survey showed that many employees wanted a different look. In 2017, around 50 employees aged 20 to 59 participated in establishing a Renewal Committee, and after roughly one year of trial manufacturing and inspections, a final design was agreed upon in March 2018.

NTN will continue developing its business in the future and hopes that these new work clothes will further increase the sense of unity among employees.


The motif for the new work clothes is a unisex design
with underlying tones of white and corporate blue.
There are both long-sleeved and short-sleeved versions.


Main Features of the New Work Clothes

Improved safety & functionality
  • Made using highly stretchable materials so it's easier for workers to crouch down
  • Feels less tight when bending over and is pleated at the waist so that workers' backs cannot be seen
Design
  • Unisex design with underlying tones of white and corporate blue to represent NTN's corporate image of striving to contribute to society and achieve further growth
  • Dark colored pants that aren't translucent and make dirt less obvious
Eco-friendly material
  • Plant-derived cloth made from sugarcane
Maternity uniforms available
  • Maternity uniforms with elastic waist straps are available as well

12 September 2018

International Anti-Corruption Conference (IACC) Announcement

World Anti Corruption forum will be held in Copenhagen Denmark 22 October 2018 by IACC to combat corruption and promote transparency

The Bearing Industry has not reached its desired goal in reducing various forms of corruption includes Fake + False Bearings, produced by major bearing manufacturers and marketed globally. We recommend Industry to attend this International conference, agenda + program details enclosed



Theme and Programme: 22-24 OCTOBER 2018. 18TH IACC COPENHAGEN, DENMARK

Together for Development, Peace and Security: Now is the Time to Act

In December 2016 at the 17th IACC in Panama City, Panama, more than 1,600 people from over 130 countries had one common call: The time for Justice, Equity, Security, and Trust is now.

Today's polarised politics fuels many evils: Populism and extremism, violence, human rights violations, trafficking and illicit money, environmental destruction, and forced migration.

Corruption, in increasingly complex forms, is eroding fair and democratic governance across the world. Violence against activists, journalists, and citizens who speak out against injustice and corruption is on the rise, all too often with impunity.

These dangerous trends call on all of us, from north to south, to work still more forcefully towards sustainable development, security, and peace. The UN Sustainable Development Goals (SDGs) guide us in this endeavour, and the fight for better governance and against corruption – highlighted in Goal 16 – lies at their heart.

This is the time to turn promises to combat corruption and promote transparency into action. It is time to focus on promises made at conferences and conventions near and far, taking stock of progress and gaps.

Building on the priorities set out in the Panama Declaration, the 18th IACC in Denmark from 22 to 24 October 2018 will move the pledge of acting together now to concrete action.

The IACC Series is the world's largest independent forum for fighting corruption. The upcoming IACC is hosted by the Government of Denmark, represented by the Danish Ministry of Foreign Affairs. As secretariat to the IACC Council, the IACC is organised by Transparency International with the support of Transparency Denmark.

Conference Programme

View the conference programme at https://18iacc.sched.com/ and mark your schedule! We are currently updating the details.

3 September 2018

Counterfeit Conference Your Legal View

The 23rd Annual Fraud & Anti-Counterfeit meeting Toronto Canada commences October 3, 2018, is a complete conference for every industry including Ball & Roller Bearings. Kindly read agenda, its contains most info for all jurisdictions

2018 TORONTO CONFERENCE – OCTOBER 3-5, 2018

MOVED TO OCTOBER



ANNOUNCEMENTS / UPDATES

Come join us for 23rd Annual Fraud and Anti Counterfeiting conference to learn about the impact counterfeiting and other related frauds are having on our day to day lives.

In addition speakers and industry experts will highlight current frauds, as well as anti-counterfeiting information. Topics will include:

  • Gain a better understanding of the impact of emerging technologies; such as, 3D Printing, and how they will change the landscape of crime in this area.
  • Techniques to combat internet fraud and counterfeiting\piracy; the latest scams and products being counterfeited\pirated; and the global efforts being taken to confront this epidemic.
  • Tools needed to keep up to date with the ever changing internet and learn tips/tricks from industry leaders.
  • Augment your knowledge of the fraud, passing off, proceeds of crime and money laundering laws as they relate to counterfeiting.
  • The socio-economic and geographical implications of this crime; the profile of the persons engaged in this crime; and the modus operandi often associated with this crime, i.e. organized crime, money laundering, identity theft, tax evasion, welfare fraud, transshipments.
  • Learn about what can and can't be done at our borders and what our new legislation can do to assist.
  • Touch and feel the difference between hundreds of different counterfeit and authentic products and get to talk with brand representatives to learn about their interesting challenges and ways to authenticate their products.
  • See the most up-to-date brand protection strategies and platforms.
  • Network with law enforcement and others invited from, and dealing in, numerous jurisdictions across Canada, the United States, Mexico, Europe and elsewhere.

We encourage you to take advantage of this training initiative and to register as soon as possible.If you have any questions please contact any of us listed below and we will be happy to assist.


Wayne Lipkus (wlipkus@ksllaw.com) at (416) 678-8292
Lorne M. Lipkus – llipkus@ksllaw.com at (416) 984-9992

25 August 2018

NTN Bearings Commences Mass Production in GERMANY

Congratulations to Japan's NTN GROUP who are making footprints in EU with a large investment and knowledge to compete with established German bearing manufacturers on their own ground



Reducing delivery lead time for machine tools with local production

NTN Corporation (hereafter, NTN) will start its first overseas mass-production of precision bearings for machine tools at NTN Mettmann (Deutschland) GmbH, a subsidiary of manufacturing company NTN Kugellagerfabrik (Deutschland) GmbH (hereafter, NTN DMF) located in Germany from end of August 2018.

1. The aim of local production

Until now, NTN has been producing precision bearings within Japan mostly at the Kuwana Works (in Kuwana City, Mie Prefecture). However, we encountered problems in that we were unable to deliver our product in a timely manner to Europe, which is the largest market for machine tools. This is because that it normally requires about 2 months to simply transport products from Japan.

NTN DMF is a manufacturing company that was first established in Europe as a Japanese corporation in 1971. Using the company's bearing production know-how cultivated locally over many years and part of its existing building as a subsidiary company will make it possible to produce precision bearings that require a high level of technical capability.

Starting mass-production of precision bearings in Germany means that we can supply products in three weeks after receiving an order in the European market. This reduction in delivery lead time will improve the ability to support customer requests in a timely manner and also improve our presence in the area in the near future. It will also mean that we can acquire new customers. These factors are part of our plan to increase net sales of precision bearing by approximately 30% in the European market over the three years of the Medium-term Management Plan "DRIVE NTN100", which started in April this year.

2. Features of precision bearings produced in Germany

(1)

High precision angular contact ball bearings (outer diameter from 35 mm) focusing on P42 precision grade*1, which is in high demand in Europe

(2)

High versatility universal specifications*3 due to flush grinding processing *2
⇒ Enables the use of multiple rows with high versatility and the ability to combine freely

Dimensional precision JIS4 grade and rotational precision JIS2 grade bearings. Precision is defined by ISO standards and JIS standards in the order of grades 0→6→5→4→2 indicating the increase in precision.

Processing to eliminate differences in face height (the front and back faces of inner and outer rings are aligned with each other) of angular contact ball bearings used with multiple row combinations.

A specifications that controls the bearing-to-bearing dimensional differences in the bore and outside diameters. It can be used for any arrangement of face-to-face/back-to-back/tandem duplex and clearance does not have to be adjusted.

3. About precision angular contact ball bearings

Angular contact ball bearings are bearings with a contact angle that can receive axial loads in addition to radial loads by using multiple rows in combination with bearings. Therefore, they are suitable for use with high rotational speeds at high precision on such as the main shaft of machine tools. Among angular contact ball bearings, bearings that have a precision grade of 5 or higher (grades 5, 4 and 2) are referred to as "precision bearings" and have their dimensions, shape and rotational precision defined by ISO standards and JIS standards.

Reference
NTN DMF overview

(1) Company name NTN Kugellagerfabrik (Deutschland) GmbH (NTN DMF)
(2) Description of business Manufacture and sale of bearings for automobiles and precision bearings
(3) Location Mettmann, North Rhine-Westphalia
(4) Capital 18.5 million euros
(5) Site area Approx. 62,000m2
(6) Total floor space Approx. 26,000m2
(7) Number of employees 132

NTN Kugellagerfabrik (Deutschland) GmbH

NTN sites in Europe

8 August 2018

SCHAEFFLER Move Into High Gear 2nd Qtr 2018

Schaeffler Group Germany continued its solid growth with strong numbers for 2nd Qtr 2018 gaining significant higher Automotive order intake to consolidate full global year

http://www.schaeffler-tomorrow.com/tomorrow/183/index.html

2018-08-07 | Herzogenaurach GERMANY SCHAEFFLER ON TRACK

* Revenue grows 5.8 percent at constant currency in the first six months

* Mid-year EBIT margin before special items of 11.1 percent flat with prior year (prior year: 11.1 percent)

* Significantly higher order intake for Automotive OEM division, book-to-bill ratio 1.8x (prior year 1.1x)

* Revenue and earnings driven by encouraging performance of Automotive Aftermarket and Industrial divisions

* Free cash flow before M&A activities of minus 74 million euros slightly improved from prior year

* Outlook for the year confirmed for Schaeffler Group and the two Automotive divisions, revenue guidance raised for Industrial division.

Global automotive and industrial supplier Schaeffler presented its interim report for the first half of 2018 today. The Schaeffler Group's revenue amounts to approximately 7.2 billion euros (prior year: approximately 7 billion euros) at mid-year. At constant currency, revenue increased by 5.8 percent during the period, 7.9 percent in the second quarter. Once again, all three divisions and all four regions contributed to the group's revenue growth at constant currency, with the Greater China region reporting a constant currency growth rate of 18.7 percent, the largest increase by far. The Schaeffler Group generated earnings before financial result and income taxes (EBIT) of 773 million euros during the first six months; second quarter EBIT was affected by a special item of 22 million euros related to the restructuring expenses for the integration of the internal supplier "Bearings & Components Technologies" (BCT) announced on May 07, 2018. As a result, EBIT before special items amounted to 795 million euros (prior year: 780 million euros). This represents an EBIT margin before special items of 11.1 percent (prior year: 11.1 percent).

Klaus Rosenfeld, CEO of Schaeffler AG, commented on the performance of the business in the first half of the year: "In a persistently challenging environment, we are on track to meet our targets for 2018. Our earnings were primarily driven by the solid performance of the Automotive Aftermarket and Industrial divisions. In addition, the trend for the first six months demonstrates that, as an automotive and industrial supplier, we are properly positioned strategically".



Automotive OEM increases revenue - Considerably higher order intake

The Automotive OEM division generated approximately 4.6 billion euros in revenue in the first six months. At constant currency, revenue increased by 4.8 percent compared to the prior year, a growth rate 3.1 percentage points higher than the average growth in production volumes of passenger cars and light commercial vehicles for the same period. Absolute order intake rose to 8.3 billion euros (prior year: 4.7 billion euros) during the first six months. The book-to-bill ratio, which represents the ratio of order intake to revenue for the year, increased to 1.8x (prior year: 1.1x) during the same period. All four of the Automotive OEM division's business divisions contributed to its revenue growth, with the E-Mobility business division reporting the highest revenue growth rate at constant currency, 7.7 percent, in the first half of 2018. At 13.4 percent, constant currency revenue growth was once more particularly significant in the Automotive OEM division's Greater China region, followed by 4.0 percent in the Asia/Pacific region, 3.7 percent in Americas, and 2.4 percent in Europe. The division generated 424 million euros (prior year: 483 million euros) in EBIT before special items in the first six months, bringing the EBIT margin before special items for the same period to 9.2 percent, less than the prior year margin of 10.7 percent. The decrease was primarily attributable to ramp-up costs, project delays in China, increased raw materials prices, and one-time items. These items were only partially offset by higher volumes and efficiency gains. Based on the encouraging volume of orders for the second half of the year, the division still expects to generate revenue growth of 6 to 7 percent at constant currency and an EBIT margin before special items of between 9.5 and 10.5 percent for the full year 2018.

Automotive Aftermarket back on growth path – Strong revenue growth of 12.3 percent in the second quarter

Following a temporary drop in revenue in the first quarter, the Automotive Aftermarket division increased its revenue significantly by 12.3 percent at constant currency in the second quarter, thus generating 925 million euros (prior year: 928 million euros) in revenue for the first half of 2018. At constant currency, revenue rose by 3.6 percent during the first six months of the year. The Greater China (39.8 percent) and Asia/Pacific (15.9 percent) regions reported the strongest constant currency growth in this division as well, followed by Europe (5.4 percent). Revenue in the Americas region declined on an adjusted basis (minus 8.9 percent) due to non-recurring additional requirements of an Original Equipment Services (OES) customer in the prior year period. Overall, the division's growth was mainly driven by demand in the open (independent) market, the Independent Aftermarket (IAM). The Automotive Aftermarket division's EBIT before special items for the first six months amounted to 176 million euros (prior year: 161 million euros), including a favorable one-time item in the second quarter related to reversed provisions. Based on this EBIT, the EBIT margin before special items was 19 percent (prior year: 17.3 percent). The group continues to expect the Automotive Aftermarket division to generate revenue growth of 3 to 4 percent at constant currency and an EBIT margin before special items of 16.5 to 17.5 percent in 2018.

Industrial business with double-digit growth rates – revenue guidance for the year raised

The Industrial division increased its revenue to approximately 1.7 billion euros (prior year: approximately 1.6 billion euros) during the first six months of 2018. At constant currency, revenue growth amounted to 10 percent and was primarily driven by Industrial Distribution. Especially the railway, raw materials, offroad, and power transmission sector clusters contributed considerably to the higher revenue as well. By far the largest increase was achieved by the Greater China region (36.7 percent), ahead of Americas (6.9 percent), Asia/Pacific (6.7 percent), and Europe (5.9 percent). The Industrial division generated 195 million euros (prior year: 136 million euros) in EBIT before special items for the first six months, representing an EBIT margin before special items of 11.6 percent (prior year: 8.6 percent). The improved margin is attributable to the favorable impact of economies of scale and pricing, as well as to efficiency gains and cost savings resulting from the program "CORE". Based on current assessments, the Schaeffler Group is raising its guidance for the Industrial division's constant currency revenue growth for the full year 2018 from previously 3 to 4 percent to 6 to 7 percent. The target for the EBIT margin before special items of 9 to 10 percent remains unchanged.

Free cash flow slightly improved – outlook for Schaeffler Group confirmed

Net income attributable to shareholders for the first half of 2018 rose slightly compared to the prior year period, amounting to 509 million euros (prior year: 485 million euros). Earnings per common non-voting share were 0.77 euros (prior year: 0.73 euros). Free cash flow before cash in- and outflows for M&A activities of minus 74 million euros for the first six months was slightly better than the corresponding prior year amount (minus 86 million euros). Capital expenditures on property, plant and equipment and intangible assets for the first half of 2018 of 595 million euros were approximately flat with prior year (prior year: 594 million euros), representing a capex ratio of 8.3 percent of revenue (prior year: 8.4 percent).

"As in the prior year, the Schaeffler Group's free cash flow is primarily generated in the second half of the year. Based on current estimates we are optimistic that we will meet our full-year target of approximately 450 million euros before cash in- and outflows for M&A activities," said Dietmar Heinrich, CFO of Schaeffler AG.

Net financial debt as at June 30, 2018, increased by 463 million euros, raising the gearing ratio, i.e. the ratio of net financial debt to shareholders' equity, to approximately 107 percent (December 31, 2017: 93 percent). As at June 30, 2018, the Schaeffler Group had total assets of approximately 12 billion euros (prior year: approximately 11.1 billion euros) and employed a workforce of 92,198 (prior year: 87,937), an increase of approximately 4.8 percent.

For the full year 2018, the group continues to anticipate revenue growth of 5 to 6 percent at constant currency, an EBIT margin before special items of 10.5 to 11.5 percent, and free cash flow before cash in- and outflows for M&A activities of approximately 450 million euros. "We recognize that our business environment remains demanding and fraught with uncertainty in the coming six months as well. Nevertheless, we are confirming the outlook for the Schaeffler Group for 2018 with a slight increase in the revenue guidance for the Industrial division," Klaus Rosenfeld stated

Forward-looking statements and projections

Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.

https://www.schaeffler.com/content.schaeffler.com/en/news_media/press_office/ press_releases/press_releases_detail.jsp?id=83837265

2 August 2018

TIMKEN Bearings Excellent 2nd Quarter 2018

From 2017 year record numbers, the TIMKEN Company USA has reported another excellent performance making this world leader in manufacturing of Ball & Roller Bearings a rock solid investment for many years to come

-- Reported sales of $906 million, up 21 percent from last year

-- Delivered earnings per diluted share of $1.16 on a GAAP basis, with record adjusted earnings per diluted share of $1.11

-- Raises 2018 outlook; now expects 2018 GAAP earnings per diluted share of $3.90 to $4.00 and adjusted earnings per diluted share of $4.10 to $4.20

NORTH CANTON, Ohio, July 31, 2018 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and power transmission products, today reported second-quarter 2018 sales of $906.3 million, up approximately 21 percent from the same period a year ago. The increase was driven by continued strength across most end markets, as well as the benefit of acquisitions and currency.

In the second quarter, Timken posted net income of $91 million or $1.16 per diluted share, versus net income of $82.5 million or $1.04 per diluted share for the same period a year ago. In the quarter, the company benefitted from higher volume, favorable price/mix and manufacturing performance, and the impact of acquisitions, which were partially offset by higher material, logistics and selling, general and administrative (SG&A) costs. The year-ago period also included a large tax benefit.

Excluding special items (detailed in the attached tables), adjusted net income in the second quarter of 2018 was $87.2 million or a record $1.11 per diluted share, versus net income of $54 million or $0.68 per diluted share for the same period in 2017.

"We delivered an outstanding quarter and remain on track for an excellent year," said Richard G. Kyle, Timken president and chief executive officer. "We are successfully growing our business organically, and the acquisitions we completed last year are performing at high levels. As a result, we posted significant revenue gains, expanded operating margins and reported record earnings per share. In addition, we further advanced our strategy, announcing plans to add Cone Drive and Rollon to our Timken portfolio of strong industrial brands."

Cash from operations for the quarter was $102.1 million, and free cash flow was $80.3 million. The company ended the quarter with net debt of $899.8 million, or 36.7 percent of capital.

Full Report: https://www.prnewswire.com/news-releases/timken-reports-strong-second-quarter-2018-results-raises-full-year-outlook-300688787.html

20 July 2018

SKF's Highest Reported Quarterly Profit

How high can SKF bearing products grow ?

After a great 2017, SKF continues the growth to report stronger times are here and getting bigger
http://www.skf.com/group/news-and-media/news-search/2018-Jul-19-SKF-Half-year-report-2018-2997792.html

Alrik Danielson, President and CEO: SKF Half Year Report 2018

"Our record start to 2018 has continued. Sales grew by 9% organically, to SEK 22.6 billion and our operating profit was SEK 2,925 million – SKF's highest reported quarterly profit to date. Our operating margin, at 12.9%, continues to improve. Cash flow was also strong, at 2.2 billion.

The industrial business had a strong quarter with an operating margin of 14.6% and an organic growth of 10.7%, with strong growth in both Asia and Europe. We also saw stronger growth in North America, albeit from a lower level. By industry, we saw particular strength in heavy industries and industrial drives.

The automotive business delivered a strong operating margin of 8.9%, driven by good demand for both trucks and light vehicles. Organic growth was 5.2%, a clear sign that we continue to outpace vehicle production levels.

We continue to invest in the development of our value propositions, through the opening of a Rotating Equipment Performance Center in Gothenburg. The Center's team of machine health specialists will act as a Nordic hub for the monitoring of connected customer machines as well as playing an important role in developing new logistic solutions for spare parts and remanufacturing services.

During the last 18 months, we accelerated production to ensure high customer service levels. As foreseen and communicated in April, production has been adjusted during the second quarter, to avoid building inventories. Entering the third quarter of 2018, we expect to see continued growth for both our industrial and automotive businesses."

Key figures, SEKm Q2 2018 Q2 2017 Half year 2018 Half year 2017
Net sales 22,620 20,229 43,180 39,830
Operating profit 2,925 2,315 5,550 4,610
Operating margin, % 12.9 11.4 12.9 11.6
Profit before taxes 2,783 2,057 5,208 4,182
Net cash flow after investments before financing 2,182 2,304 2,441 2,368
Basic earnings per share 4.25 2.51 8.02 5.61


Net sales change y-o-y, %, Q2 Organic Structure Currency Total
SKF Group 9.0 -0.6 3.4 11.8
Industrial 10.7 -0.9 3.9 13.7
Automotive 5.2 0.0 2.4 7.6


Net sales change y-o-y, %, Half year Organic Structure Currency Total
SKF Group 8.3 -0.7 0.8 8.4
Industrial 9.6 -1.0 1.2 9.8
Automotive 5.3 0.0 0.0 5.3


Organic sales change in local currencies, per region y-o-y, %, Q2 Europe North America Latin America Asia Middle East & Africa
SKF Group 8.7 5.3 -3.5 17.2 5.6
Industrial +++ + --- +++ +
Automotive +/- ++ +/- +++ ---


Organic sales change in local currencies, per region y-o-y, %, Half year Europe North America Latin America Asia Middle East & Africa
SKF Group 8.2 4.2 -1.5 15.3 9.2
Industrial +++ +/- -- +++ +++
Automotive + ++ ++ +++ ---


Outlook and guidance

Demand for Q3 2018 compared to Q3 2017
The demand for SKF's products and services is expected to be higher for the Group, including Industrial and Automotive. Demand is expected to be significantly higher in Asia, higher in Europe and North America, and slightly lower in Latin America.

Guidance Q3 2018

  • Financial net: SEK -200 million.
  • Currency impact on the operating profit is expected to be around SEK +180 million compared with 2017, based on exchange rates per 30 June 2018.

Guidance 2018

  • Tax level excluding effect related to divested businesses: around 28%.
  • Additions to property, plant and equipment: around SEK 2,400 million.
14 July 2018

Roller Bearing Company & Aircraft Technology

Since its earliest days in West Trenton, New Jersey, the company has been at the forefront of bearing technology. Roller Bearing Company of America, founded in 1919, manufactured a variety of bearing products. In 1941, Roller Bearing Company became the sole source supplier for the landing gear bearings on military aircraft manufactured by Ford Motor Company. The RBC facility in West Trenton continues today to be a major supplier of helicopter main and tail rotor flight control bearings to, among others, the U.S. Government.

Corporate Profile NASDAQ:ROLL
$135.38 + 2.39
Jul 13, 2018
4:00 p.m. ET
RBC Bearings Incorporated


We are an international manufacturer and marketer of highly engineered precision bearings and products, which are integral to the manufacture and operation of most machines, aircraft and mechanical systems, to reduce wear to moving parts, facilitate proper power transmission, reduce damage and energy loss caused by friction and control pressure and flow. While we manufacture products in all major categories, we focus primarily on highly technical or regulated bearing products and engineered products for specialized markets that require sophisticated design, testing and manufacturing capabilities. We believe our unique expertise has enabled us to garner leading positions in many of the product markets in which we primarily compete. Over the past fifteen years, we have broadened our end markets, products, customer base and geographic reach. We currently have 43 facilities of which 36 are manufacturing facilities in six countries.

Customers and Markets

We serve a broad range of end markets where we can add value with our specialty, precision bearing and engineered products, components, and applications. We classify our customers into two principal categories: industrial and aerospace. These principal end markets utilize a large number of both commercial and specialized bearings and engineered products. Although we provide a relatively small percentage of total bearing and engineered products supplied to each of our overall principal markets, we believe we have leading market positions in many of the specialized product markets in which we primarily compete and serve. Financial information regarding geographic areas is set forth in Part II, Item 8. "Financial Statements and Supplementary Data," Note 18 "Reportable Segments."

  • Industrial Market (38% of net sales for the fiscal year ended March 31, 2018)

We manufacture bearings and engineered products for a wide range of diversified industrial markets, including construction and mining, oil and natural resource extraction, heavy truck, marine, rail and train, packaging, semiconductor machinery and the general industrial markets. Our products target market applications in which our engineering and manufacturing capabilities provide us with a competitive advantage in the marketplace.

Our largest industrial customers include Caterpillar, Halliburton Energy Services, Newport News Shipbuilding, Komatsu America and various aftermarket distributors including Applied Industrial, BDI, Kaman Corporation, McMaster Carr and Motion Industries. We believe that the diversification of our sales among the various segments of the industrial markets reduces our exposure to downturns in any one individual market. We believe opportunities exist for growth and margin improvement in this market as a result of the introduction of new products, the expansion of aftermarket sales and continued manufacturing process improvements.



  • Aerospace Market (62% of net sales for the fiscal year ended March 31, 2018)

We supply bearings and engineered products for use in commercial, private and military aircraft and aircraft engines, guided weaponry, and vision and optical systems. We supply precision products for many of the commercial aircraft currently operating worldwide and are their primary supplier for many of their product lines. This includes military contractors for airplanes, helicopters, missile systems, engines and satellites. Commercial aerospace customers generally require precision products, often of special materials, made to unique designs and specifications. Many of our aerospace bearing and engineered component products are designed and certified during the original development of the aircraft being served, which often makes us the primary bearing supplier for the life of the aircraft.



Complete details: http://investor.rbcbearings.com/phoenix.zhtml?c=190445&p=irol-homeProfile

 
Net Sales for the Fiscal Year Ended
 
Segment
March 31, 2018
April 1, 2017
April 2, 2016
Representative Applications
Plain Bearings 
 
$296,708
(44.0%)
$277,700
(45.1%)
$270,534
(45.3%)
  • Aircraft engine controls and landing gear
  • Missile launchers
  • Mining, energy, and construction equipment
Roller Bearings 
$132,021
(19.6%)
$109,483
(17.8%)
$112,039
(18.8%)
  • Aircraft hydraulics
  • Military and commercial truck chassis
  • Packaging machinery and gear pumps
Ball Bearings 
$  67,806
(10.0%)
$  58,448
(9.5%)
$  53,650
(8.9%)
  • Radar and night vision systems
  • Airframe control and actuation
  • Semiconductor equipment
Engineered Products 
$178,414
(26.4%)
$169,757
(27.6%)
$161,249
(27.0%)
  • Hydraulics, valves, fasteners and engines
  • Industrial gears, components and collets
3 July 2018

Fake News Fake Bearings Same Same

The past 12 years, the Bearing Industry has been hood winked into believing Fake Bearings are on every competitors shelves

For some highly paid bearing executives, Faking Fake bearings is classified as a lucrative business to obtain free media coverage, billboard advertising and highlighting their product to achieve a greater price from the consumer, playing the role of Robin Hood

Its all about Fake News for Fake Bearings, however these can also Kill from threats of reprisals and cloak & dagger operations to assist and prevent corrupt bearing Executives from legal prosecution. Below Fake news is typical of today's global phenomenon resulting in death

Fake news kills: Fighting misinformation requires better policing

The spate of lynchings in recent days and weeks reported from south Indian states like Karnataka, Telangana, Tamil Nadu and Andhra Pradesh – on account of rumours of child lifting circulating through WhatsApp messages – deserves urgent attention of governments across India. The speed and extent of dissemination of WhatsApp messages makes them a clear and present danger when the intent is to subvert law and order. The combination of medieval mindsets and post-modern technology that cloaks rumour as news is at the root of these lynchings.

Add churnings in a country that is being increasingly polarised to serve political ends – leading to phenomena such as antipathy to migrant labourers in the south and gau raksha movement in north India – and it's a lethal mix. The rumours and hysteria find their own victims: in most cases outsiders unlucky enough to fall in the way of a bloodthirsty mob. Among the victims have been Muslim cattle traders, poor jobseekers from other states, and women with mental ailments. The Union government will recruit social media monitors for all districts but it is doubtful these can defang fake news without improving policing and awareness.

The worst possible response would be for government to crack down on mainstream media, ostensibly for the purpose of checking fake news. This would lead, more than anything else, to the proliferation of fake news and rumours. Instead, police personnel at grassroots are best placed to detect the propagation of such messages and the formation of mobs; they have to be trained for this new dimension of beat/ community policing. Awareness needs to be created about fake news on social media, and people must wait for authoritative corroboration. But mischief mongers and the existence of social biases and divides leave no room for complacency.

https://www.bloomberg.com/news/articles/2018-06-20/one-cop-s-fight-against-fake-news-is-saving-lives-in-india

https://theundefeated.com/features/how-fake-news-led-to-dylann-roof-to-murder-nine-people/

https://blogs.timesofindia.indiatimes.com/toi-editorials/fake-news-kills-fighting-misinformation-requires-better-policing/

The Biggest FAKE : https://www.stopfakebearings.com/en/ requires Policing & Corporate Responsibility

17 June 2018

Schaeffler's Forensic Invention, Fight Against Counterfeiting

Schaeffler Germany announced last week a new APP device to fight against "Fakers" of bearing products.

This device allows the first step in detection of Counterfeits for forensic examinations to proceed in legal hearings. In other words, similar to breathalyzers when a suspect is tested for drink driving

BearingCode commends Schaeffler's new app idea, although awaiting a physical test to verify results

Schaeffler also claims: "In 2017 alone, more than 700 suspected cases of product counterfeiting were reported" request details



"An Innovative Tool in the Fight Against Counterfeiters"

The nation-branding initiative "Germany – Land of Ideas" organized by the German Federal Government and the Federation of German Industries (BDI) has named the OriginCheck app launched by Schaeffler in 2017 as one of its "Outstanding Landmarks".

The nation-branding initiative "Germany – Land of Ideas" organized by the German Federal Government and Federation of German Industries (BDI) has named Schaeffler as one of the recipients of its "Outstanding Landmark" award for 2018. The OriginCheck app launched by Schaeffler in 2017 was one of 100 ideas selected. This app allows buyers of INA and FAG products such as rolling bearings to carry out initial authenticity checks both quickly and easily, and initiate further steps to obtain proper clarification without complications if any suspicion arises. In this way, the jury concluded, the app benefits the general public by helping to fight product piracy and providing increased protection against potentially harmful counterfeit products.

Reliable checking made easy
The checks are carried out based on the GS1-standard data matrix codes (DMCs) that are placed on the Schaeffler packaging and allow the product to be identified worldwide with no overlaps. The user scans this DMC with the OriginCheck app and immediately receives notification of whether the code has been found in the database that is maintained by Schaeffler. When suspicion arises, the app helps the user to create suitable photographic documentation of the product being checked and e-mail this documentation directly from the app to the Brand Protection Team, Schaeffler's central department responsible for combating product and brand piracy.

Consistent, network-based tracking
Since 2004, the Brand Protection Team has been handling suspected cases in collaboration with customs and authorities, and it consistently develops additional measures to protect against product piracy and trademark infringements. Schaeffler inspected over 700 suspected cases in 2017, some of which were reported using the OriginCheck app, allowing goods with a total retail purchase value of five million euros to be seized and destroyed under supervision worldwide. The app allows end customers and retailers to better evaluate the sources from which they procure components, which in many cases are safety-relevant, and provides increasing support in tracking down suppliers of counterfeit products.

At the EU level, rights holders such as brand product manufacturers are continuously working with customs and authorities to simplify and accelerate the exchange of information. Schaeffler has been part of the steering committee for the development of the Enforcement Database at the European Union Intellectual Property Office (EUIPO) since 2013. Rights holders use this database to supply product information and contacts to the European authorities in order to make it easier to identify counterfeits and initiate the appropriate measures. The OriginCheck app and all of the required information are available here for the authorities to use, and the app is also demonstrated at various joint events, such as the Enforcement Database Forum taking place in Alicante (Spain) in mid-June.

Schaeffler's complete statement www.schaeffler.com/en/apps
11 June 2018

NTN-SNR Celebrates 100th Anniversary With Global Collaborators

Annecy France, Milestone

CONGRATULATIONS

During the first weekend of June, NTN-SNR celebrated its centenary around festivities. For this special occasion, NTN-SNR's employees came from all over the world.

On Friday 1st June, 800 people gathered on the Pâquier in Annecy to create a human logo. This event was followed by a birthday party at the Imperial.

On Saturday 2nd June, NTN-SNR's employees and their families were invited to visit production plants in Annecy.

It was a great opportunity for them to share an unforgettable moment.

Let's meet again in one hundred years!

NTN-SNR to take part in Automatica trade fair in Munich


For the second time, NTN-SNR shall take part in Automatica, the international trade fair for robotics, automation and mechatronics to be held from 19 to 22 June in Munich. NTN-SNR is a major player in this market and has one of the widest ranges of high-performance Linear Guides and Linear Axis.

NTN-SNR's specialists will have the pleasure to welcome you to BOOTH 426, HALL B6 to introduce you to our latest innovations!

Our team looks forward to seing you at our stand! Read the Press Release





NTN-SNR suspension bearings – Investments for premium "Made in France" quality

Annecy - Automotive Aftermarket - Products

Did you know that our entire range of NNTN-SNR suspension bearings are made in France? We have 42000 m² dedicated to the manufacture of suspension products. NTN-SNR is reaffirming its uncompromising quality, reliability and safety by continuously investing in its French production site. From… Read more


4 June 2018

Counterfeit Parts & Materials Conference 26-28 June 2018

A reminder for the next important Counterfeit academic meeting organized by SMTA CALCE & University of Maryland USA June 26-28, 2018

Although a focus is based on electronics; Bearings & associated products together with materials handling are high on the agenda - All invited

Symposium on Counterfeit Parts and Materials: June 26 - 28, 2018

The most trusted forum for independent review of technology and tools to avoid, detect, and mitigate counterfeits

Conference Chair - Dr. Diganta Das (diganta@umd.edu), Ph.D., CALCE, University of Maryland

 


June 26 - 28, 2018
The College Park Marriott Hotel and Conference Center
3501 University Blvd E Hyattsville, MD 20783

Abstracts for presentations and proposals for workshops are currently being accepted.

CLICK HERE to submit an abstract.
DEADLINE FOR ABSTRACTS: March 20, 2018

For the proceedings for previous years' Symposia:
2017 and 2016



SMTA and CALCE at the University of Maryland are pleased to announce the Symposium on Counterfeit Electronic Parts and Electronic Supply Chain 2018. The program will be held June 26-28, 2018 at the The College Park Marriott Hotel and Conference Center. Do not miss this opportunity to learn from and share your insights with government, industry and academia who are addressing the counterfeit problem

Changes in electronic supply chain had been fast and furious in the last decades and its impact on the practices of companies is still evolving. It is well understood that, the scourge of counterfeit electronic parts is related to the changes in supply chain but it is only one of the many impacts. This symposium will provide a forum to cover all aspects of changes in the electronic parts supply chain on how an organization performs part selection and management through whole life cycle of the parts.

This symposium will be valuable to quality and reliability manager, supply chain managers, brand protection specialists, inspectors, marketing and procurement policy makers, contracts and legal management, security specialists and government agencies. Our focus is to provide relevant information to the professionals that can be used for solving problems today while planning for a different business and technology environment in the future


Topics will include:

  • Impact of global supply chain changes on the component management practices: quality, reliability, manufacturability
  • Electronic parts distribution: current stage and evolution over time
  • How distributors can prepare themselves to be part of the solution against counterfeit parts
  • Federal and defense procurement practices and its impact on the supply chain
  • Authentication techniques for securing electronic part supply chain
  • Inspection tools and techniques for detecting counterfeit parts
  • New areas of counterfeit concerns, including materials and energy storage
  • Industry and international working groups and standards on electronic part supply chain and counterfeit electronic parts
  • Cybersecurity concerns associated with counterfeit parts and materials

Abstract Submissions/Contact

Please provide an abstract (within 300 words) on any relevant topics here no later than March 20.
Final presentations are due June 15th, 2018.
Proposals for workshops on topics of common interest on component management are also being accepted until March 1, 2018.
Please submit your proposals with detailed outline, bio of instructor, list of prior offerings and the expected audience.

29 May 2018

Bearing Invite US Wind Conference & Exhibition

Invitation to the Bearing Industry seeking membership to US offshore wind supply chain and Exhibition 7-8 June 2018 Boston USA

Breaking into the US Offshore Wind supply chain: with the requirement for developing a local supply chain, see how companies in Oil & Gas and from other industrial sectors can join the US Offshore wind industry

Additional seminars, taking place alongside the main conference include:

  • Commercializing Floating Wind Turbines: Find out what technology and project developers are doing to commercialize floating turbines and the opportunities for floating project developments in the US

America's offshore wind States have launched the U.S. Offshore wind power market into action with big announcements expected in 2018. For this reason, the BOEM, DOE, NYSERDA, MassCEC, Maryland Energy Administration, NWF, BNEF, Deepwater Wind, US Wind, Avangrid, Statoil, Vattenfall and many more stakeholders, will speak of their plans for offshore wind market expansion at the 3rd US Offshore Wind 2018 Conference in Boston (June 7-8)

Click here to download the latest brochure, attendees list, 2-day agenda and 50+ speaker line-up

The Main Conference offers you a comprehensive set of topics that are essential for any company wishing to play a significant role in the US OSW market, including:

New Updates from the U.S. offshore wind market builders

  • Massachusetts: Receive updates on MA's latest round of competition, including the selection of the first project/s to meet the Commonwealth's 1,600 MW goal.
  • New York: Hear an update on NY's Offshore Wind Master Plan as well as plans for achieving the state's goal of 2,400 MW, including procurement plans for 2018 and 2019.
  • New Jersey: Hear an update about the State's interest in attracting offshore wind-related economic opportunities to New Jersey including jobs, manufacturing, and infrastructure.
  • Maryland: Receive an update on both projects awarded ORECs by Maryland in 2017 and the local economic opportunities they will bring to Maryland by supporting hundreds of highly skilled jobs in engineering, construction, and operation.

OSW Project development strategies

  • Building the U.S Offshore Wind Supply Chain
  • Models for Supply, Installation, and O&M
  • LCOE Cost Reduction Strategies
  • The Federal Offshore Wind Leasing Plan, Permitting, And The Regulatory Regime
  • Strategies That Win Stakeholder And Political Support For Project Success
  • Financing US Offshore Wind Projects


photo courtesy by Schaeffler Germany

20 May 2018

SKF Playing Consumer Games With Fakes

SKF Bearing Group has decided to keep counterfeit Production alive with the release of more Fake Counterfeit bearings

Facts are, these are not fake SKF production but to provide AI scare tactics (1) IP Notoriety (2) Impersonating good corporate Citizens while alleging an unlawful act to gain marketing advantage and free advertising

Follow us on next Fake Counterfeiting Conference June 2018 https://www.smta.org/counterfeit/register_now.cfm


photo by SKF February 2018

In China, seized forged SKF bearings with a market value of more than 2 million

On February 1, the Chinese subsidiary of the Swedish Bearing Concern SKFparticipated in a joint operation with the Chinese General Administration of Customs in an operation to detain cargo of fakes. A large number of counterfeit bearings under the SKF brand were seized, the market value of which exceeded 2 million yuan (more than 300 thousand dollars). Given the amount of detained goods, it is not only about administrative sanctions against companies, but also about criminal cases

As SKF notes, if earlier fake bearings under its trademark went mainly to the domestic market of China, now the flow of counterfeit bearings goes both for export and for Chinese provinces. Fake SKF bearings almost always do not correspond to the level of quality and characteristics of genuine products, which can lead to accidents, premature failure of equipment and serious financial damage to the end user. Some photos from January 2007 to 2018, containing 12 years of False Fake Counterfeiting by Global Bearing Manufacturers

9 May 2018

Bearing Inventions Founders Financials & Obligations

Over the past couple of decades, international bearing business of Manufacturers & Distributors attitudes changed with the invention of BearingNet and BearingCode: both unique at first, highly controversial to some

Founders of BearingNet in 1994 John Bass & Ian McPherson gave the industry a system for streamline procurement in simple terms, making it possible to personally meet discuss and resolve global bearing trade with Conferences, guaranteeing End-Users Customer local & worldwide available service

Founder of BearingCode in 2006 Ian McPherson gave the industry a new system for global information service transparency compliance legal provisions not previously known by Manufacturers & Distributors and reported events relating to Government & other regulations

Today, BearingNet and BearingCode have big internet following with views & hits and other vital statistical information

Financially, both founders had different results: John Bass could not stay to enjoy his reward while Ian McPherson has never received his entitlement.

John's nephew Peter Annis was the computer operator (not bearings) who until 2006 did not convene conferences, received John's reward but also alleged received all of Ian McPherson's amount as original founder and operator - not a dime given McPherson

The Australian Government has assisted Ian McPherson with funds to keep & maintain BearingCode for global bearing institutions, however monies owed by BearingNet/Peter Annis & Co to BearingCode/McPherson have been withheld since 2016 strangling the Code's services to Public Treasury

Leaning on Governments to satisfy Commercial practices is inappropriate and perhaps in this case unlawful, it is strongly recommended that BearingNet/Peter Annis and those global Corporations honor their promised funding to Bearingcode/Ian McPherson


Compliance is quite easy to state but extremely difficult to execute. The new age of Artificial Intelligence (AI) makes regulation to compliance a rather empty threat of endless money statements particularly when collections are important to either party. Compliance by way of cartoons Walt Disney style promises, make game playing of Commerce a thing of the past to Inventors Founders Financials & Regulations relating to Bearing Business

5 May 2018

Major Bearing Manufacturers 2018 Strong Growth

Combining strong numbers in 2017, the 2018 first quarter has recorded historical highs for SKF and Timken, with Schaeffler to respond this week

In depth report analysis from these 3 important world bearing manufacturers show results are wide spread in most strategic areas of Industry that contribute to the global engineering cycle needed for sustained business growth. The 2018 full bearing year is now highly reappraised


SKF first quarter results 2018


Alrik Danielson, President and CEO:

"We have had a record start to 2018. Sales grew by 7.5% organically to SEK 20.6 billion and our reported operating profit was 2,625 million, both historical highs for SKF. Operating margin at 12.8% exceeded our target.

The actions we have taken to control and continually review our cost base, increase prices and focus on meeting the specific application needs of our customers are showing results.

We are delivering solid financial performance, with organic growth, operating margin and net debt to equity levels all better than our stated targets that are valid over a business cycle.

The industrial business, with a reported operating margin of 15%, grew by 8.5%, with especially strong growth in Europe and Asia. We grew in almost all industries and saw particular strength in industrial drives and railway applications

http://www.skf.com/group/investors/reports/first-quarter-results-2018

Timken Reports Strong First-Quarter 2018 Results; Raises Full-Year Outlook

- Reports first-quarter sales of $883 million, up 25 percent from last year
- Generated first-quarter earnings per diluted share of $1.02 on a GAAP basis, with adjusted earnings per diluted share of $1.01
- Raises 2018 outlook; now expects 2018 GAAP earnings per diluted share of $3.80 to $3.90 and adjusted earnings per diluted share of $3.90 to $4.00

NORTH CANTON, Ohio, May 1, 2018 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and mechanical power transmission products, today reported first-quarter 2018 sales of $883.1 million, up approximately 25 percent from the same period a year ago. The increase was driven by strong organic growth across most end-market sectors led by industrial distribution and off-highway, as well as the benefit of acquisitions and currency.

In the first quarter, Timken posted net income of $80.2 million or $1.02 per diluted share, versus net income of $38.2 million or $0.48 per diluted share for the same period a year ago. In the current quarter, the company benefitted from higher volume, favorable price/mix and manufacturing performance, and the impact of acquisitions, which were partially offset by higher selling, general and administrative (SG&A) and logistics costs. The current quarter also reflects lower pension-related charges and a lower tax rate.

http://news.timken.com/2018-05-01-Timken-Reports-Strong-First-Quarter-2018-Results-Raises-Full-Year-Outlook


Schaeffler reported strong growth in 2017 and results for First Quarter 2018 looking at sustained high numbers....stay tuned

https://www.schaeffler.com/content.schaeffler.com/en/investor_relations/ events_publications/financial_calendar/financial_calendar.jsp

30 April 2018

SKF and Peugeot S.A., Settle Legal Dispute

SWEDEN 27 April 2018:

SKF and Peugeot S.A., and several group companies, (PSA) have settled their dispute before the Competition Appeal Tribunal in the United Kingdom regarding damage claims resulting from SKF's settlement with the European Commission for violation of European competition rules. PSA initiated this lawsuit against several bearing manufacturers, among them AB SKF, in February 2016.

This settlement is not an admission of liability for damages, but is made in order to enable SKF and PSA to continue their long-standing commercial relationship.

The settlement will have an insignificant impact on the financial position of the Group.

http://www.skf.com/group/news-and-media/news-search/2018-Apr-27-SKF-and-PSA-settle-legal-dispute-2900162.html

23 April 2018

European Commission New Corporate Whistleblower Act.

In sweeping changes strengthening the EU Whistleblower Act to provide protection, finance and new controls for all EU members (notice to non member countries) for the protection of investigative journalism, the EU Commission Brussels announced today

Corporations requirement for protection mechanisms will need to set up must include:

Clear Mechanisms and Obligations for Employers

All companies with more than 50 employees or with an annual turnover of over €10 million will have to set up an internal procedure to handle whistleblowers' reports. All state, regional administrations and municipalities with over 10,000 inhabitants will also be covered by the new law.

The protection mechanisms will have to set up must include:

  • Clear reporting channels, within and outside of the organisation, ensuring confidentiality;
  • A three tier reporting system of:
  • Internal reporting channels;
  • Reporting to competent authorities – if internal channels do not work or could not reasonably be expected to work (for example where the use of internal channels could jeopardise the effectiveness of investigative actions by the authorities responsible);
  • Public/media reporting – if no appropriate action is taken after reporting through other channels, or in case of imminent or clear danger to the public interest or irreversible damage;
  • Feedback obligations for authorities and companies, who will have to respond and follow-up to the whistleblowers' reports within 3 months for internal reporting channels;
  • Prevention of retaliation and effective protection: all forms of retaliation are forbidden by Law
  • For complete details and legal requirements: http://europa.eu/rapid/press-release_IP-18-3441_en.htm
Press contacts:
     Christian WIGAND (+32 2 296 22 53)
     Melanie VOIN (+ 32 2 295 86 59)
General public inquiries: Europe Direct by phone 00 800 67 89 10 11 or by email
16 April 2018

Australian Renewable Energy Potential 'Untapped'

AUSTRALIA

Falling technology costs for renewable energy and the closure of the oldest coal-fired power plants has accelerated the country's uptake of wind and solar energy, according to the International Energy Agency (IEA)

Just 3 years ago, the installations of wind turbines in Australia were frowned upon by the outgoing Federal Government stating that local coal mines had enough black and brown stuff to supply global requirements for over 1000 years, believing wind turbines were a modern misadventure justifying big funding only to coal producers.

Now with 'eyes wide open' a modernized country drive has become an energized world leader & price saver that has maintained Australia's AAA global rating


RES Group's 240MW Ararat site in the southerly state of Victoria was
commissioned last year (pic credit: GE)

But Australia's National Energy Market (NEM) needs to prioritise safeguarding system stability and enhance grid infrastructure to accommodate higher shares of variable renewables, the agency recommended.

Energy procurement policies, too, have "lacked co-ordination", the IEA stated.

Wind and solar power have both grown "rapidly" in recent years, the IEA stated in its report ‘Energy policies of IEA countries — Australia 2018 review'.

Wind power's installed capacity in Australia has grown from 2.13GW in 2011 to 4.23GW in 2015, while solar power has increased from 1.4GW to 4.36GW over the same period. Coal's capacity, meanwhile, has declined as plants have been taken offline.

But wind and solar still represent less than 1% of Australia's total primary energy supply (TPES) each — 0.8% and 0.7% respectively, the IEA stated.

Accordingly, wind and solar power's potential "remains largely untapped", according to the IEA, and installed capacity is unevenly distributed between states.

With the national electricity market's "stretched power system", "low levels of interconnection", and "declining base-load capacity", electricity costs are high and integrating renewables "remains challenging", the IEA wrote.

And as coal plants come offline, wind and solar will feature more prominently in Australia's energy mix, the IEA wrote. The report's authors added: "It is important they are installed and operated in a system-friendly manner to provide the flexibility to accommodate the needs of the power system."

The authors added: "While Australia is well-endowed with natural resources, energy security risks across several sectors have increased."

The country should rely on long-term policy and energy market responses to strengthen energy security, foster competition, and make the power sector more resilient, the IEA concluded.

Fatih Birol, the IEA's executive director, described the government's efforts to ensure energy security and push through market reforms as "impressive".

However, he added: "A comprehensive national energy and climate strategy is needed for Australia to have a cleaner and more secure energy future. The National Energy Guarantee (NEG) is a promising opportunity for Australia to integrate climate and energy policy."

National Energy Guarantee

The IEA's report comes as the government issued a consultation paper on the NEG — a proposed policy to reduce emissions and ensure reliability by encouraging retailers to invest in dispatchable energy supply.

Kerry Schott, chair of Australia's energy security board, argued that with suppliers meeting such obligations, wholesale prices would be lower. She added: "Since retailers will need to contract with new low emissions and dispatchable generators, the increased supply will place downward pressure on wholesale prices."

Australia's Clean Energy Council (CEC) welcomed the consultation, and said that a dialogue on energy policy was needed to "overcome the chronic long-term uncertainty confronting energy investors".

Kane Thornton, the CEC's chief executive, said: "While investment has been booming recently behind the 2020 Renewable Energy Target, the lack of a coherent and bipartisan national policy puts further growth in doubt over the long term.

"We are open-minded about (the NEG's) potential but many questions remain, including the fundamental question about whether the policy signals will be able to underpin new investment in clean energy and address issues with market concentration.

"Ultimately the enduring success of any national energy policy will require not just careful policy settings but the support of the state governments and the federal Labor opposition."

He added: "We encourage all parties to consult in good faith towards the development of a workable policy that will deliver clean, affordable and reliable energy over the long term."

9 April 2018

Bearing Industry Conference 24-26 April 2018

The next Bearing Conference and Aircraft Control Group will be held at the Wequassett Hotel Harwich MA USA. Complete details are provided below, all welcome to participate and experience the latest in aircraft bearing control

SAE International Bearing Group Meeting ACBG GENERAL SESSIONS


Air Frame Control Bearing Group USA

APRIL 24 - 26, 2018

https://www.sae.org/works/committeeHome.do?comtID=TEAACBGPB#
Full Details: Meeting Agenda and Program

Chairman: Fred Gyuricsko
RBC BEARINGS, CHIEF ENGINEER


Members & General Industry Welcome

Wequassett Hotel
Harwich MA 02645 USA
http://wequassett.com/

Contact Us
Press & News
Phone (508)432-5400

Email
Reservations@wequassett

Additional Information
April 24 - 26, 2018
Harwich, MA United States

Registration
Meeting Information


1 April 2018

Manufacturers World Money Maker

Easter is Chocolate Manufacturers busiest time of Year globally - Did you get your Bunny ?


Click here - https://www.countryliving.com/entertaining/g16668380/funny-easter-pictures/

25 March 2018

Schaeffler Prepared for Change, Can You?


Schaeffler is giving an overview of mobility for tomorrow during the VDA Technical Congress. In his keynote speech, Chief Technology Officer Prof. Gutzmer will cover topics ranging from the further optimization of powertrains with internal combustion engines to electric mobility


"Change is coming", is the motto of Prof. Peter Gutzmer, Deputy CEO and Chief Technology Officer at Schaeffler. "And we are well prepared, regardless of what form the change will take." Gutzmer is speaking for both the German automotive industry and for Schaeffler as a mobility supplier in his technical presentation that will open the 20th Technical Congress of the VDA.

"An important key to success is an ability for system-based thinking and ambidexterity, the ability to use ‘both hands' with equal ease. This means continuously developing proven products and at the same time developing new sectors and applications", says Peter Gutzmer. Schaeffler is showing how the company is implementing this approach using a selection of exhibits. The spectrum of exhibited products ranges from technologies for environmentally-friendly and efficient drives to innovations in the field of urban mobility.

"The electrification of the powertrain offers significant opportunities to reduce energy consumption and harmful emissions even further", explains Matthias Zink, CEO Automotive OEM at Schaeffler. This includes electromechanical actuators as well as 48-volt hybrid technologies and efficient electric drives. "Decisive factors for success are a holistic approach to the powertrain and the interaction between the electric machine, internal combustion engine, transmission and the corresponding infrastructure", explains Matthias Zink. "Schaeffler finds itself in an excellent position with its expertise in electric mobility and systems for engines, transmissions, and chassis."

Technologies that enable variable control of the valve train and compression to match the specific driving situation are components for efficient and environmentally-friendly drives. Modern damping and absorber technologies for engines and transmissions allow engines to operate in low speed ranges and in this way also reduce consumption and emissions. Even 48-volt mild hybrid systems enable significant recuperation, i.e. the recovery of a considerable quantity of braking energy and the minimization of energy consumption. Electromechanical actuators from Schaeffler improve the energy balance of vehicles because they only require energy when needed and can replace hydraulic systems with a high energy consumption.

In addition to products for environmentally-friendly drives, Schaeffler is presenting a range of ideas for urban mobility. This includes, for example, the now highly-regarded Bio-Hybrid, a four-wheeled pedelec with weather protection, on whose industrialization the company is now working.

8 March 2018

Counterfeit Conference June 26-28, 2018

All Bearing Manufacturers Distributors and Associated Groups are invited to attend the next important conference on COUNTERFEITING.

Your participation and comments are welcomed to this professional meeting to avoid, apprehend and control FAKE TRADING in Bearings

Symposium on Counterfeit Parts and Materials

Technical Symposium and Expo: June 26-28, 2018
Workshops: June 28, 2018
College Park Marriott Hotel & Conference Center
College Park, MD

Home Call for Abstracts Technical Program Sponsorships and Exhibits Hotel/Travel Registration

Symposium on Counterfeit Parts and Materials

Technical Symposium: June 26-28, 2018
Expo: June 26-27, 2018
Workshops: June 28, 2018

College Park Marriott Hotel and Conference Center
College Park, MD

SMTA and CALCE University of Maryland are pleased to announce the 2018 Symposium on Counterfeit Parts and Materials. Don't miss this opportunity to learn from and share your insights with experts from government, industry and academia who are addressing the counterfeit problem.

Topics covered in this symposium will include the following:

  • Impact of changes in the global supply chain on the component management practices: quality, reliability and manufacturability
  • Electronic parts distribution: current stage and evolution over time
  • Federal and defense procurement practices and their impacts on counterfeit management
  • Authentication techniques for securing electronic part supply chain
  • Inspection tools and techniques for detecting counterfeit parts
  • New areas of counterfeit concerns: materials, energy storage
  • Industry and international working groups and standards on managing counterfeit risks
  • Cybersecurity concerns associated with counterfeit parts and materials

DEADLINE FOR ABSTRACTS: March 20, 2018

Please provide an abstract (within 300 words) on any relevant topics using the online form above by March 20th. Presentations will be due in May.

DEADLINE FOR COURSE PROPOSALS: March 20, 2018

We are also seeking proposals for half and full day workshops to be presented on June 28. Please submit proposal for workshops with the following:

  • Course outline
  • Who the course is for
  • List of prior offerings of the course
  • How will the course help the attendees

While the courses on all topics are of interest, we are particularly looking at classes aimed at electronic part distributors and laboratories that perform inspection to help them improve their technical skills and business practices.


Organized by
SMTA CALCE


SMTA


Call for Abstracts





Event Sponsors:
4 Star Electronics

AERI

Freedom Sales and Marketing


Media Partners:
Circuits Assembly Magazine

Go to SMT Magazine on-line

Endorsed by:
SAE International







Technical Committee
Diganta Das, Ph.D., CALCE/University of Maryland, Conference Chair

Sally Arno, Freedom Sales

Bill Cardoso, Ph.D., Creative Electron

Karen Ebner, Raytheon Systems Company

Michael Ford, Aegis Software

Anne Poncheri, InterCEPT

John Radman, NTS

Kevin Sink, TTI, Inc.





2 March 2018

Vestas Retain Onshore Wind Manufacturers 2017 - Siemens & Gamesa Closing

Danish wind turbine manufacturer Vestas managed to hold on to its spot as the world's leading onshore wind turbine manufacturer in 2017, but its recent dominance may not last forever as Siemens Gamesa is narrowing the gap after its successful merger was completed early last year.

According to new figures published this week by Bloomberg New Energy Finance (BNEF) in its Global Wind Turbine Market Shares report, Vestas maintained its top spot in 2017 with 7.7 gigawatts (GW) worth of onshore wind turbines commissioned, equivalent to a 16% share of the global market. Vestas stepped back into top spot a year ago with 8.7 GW, beating out temporary usurper Xinjiang Goldwind which took the 2015 top spot with 7.8 GW of commissioned capacity.

Overall, 2017 was a slower year, with just under 47 GW worth of onshore wind capacity commissioned during the year, down 12% due in part to a slowdown in China. That being said, BNEF expects that commissioned capacity will bounce back in 2018 to 55 GW, up 17%, thanks to rebounding figures in China and the uptick of the Latin America market.

The top four onshore wind manufacturers in 2017 were Denmark's Vestas, followed by Siemens Gamesa, Goldwind, and General Electric. While Goldwind and GE had solid years, installing 5.4 GW and 4.9 GW respectively, a lot of the focus is on the number two spot, filled by Spanish company Siemens Gamesa.

Announced in June of 2016, Spanish wind energy giant Gamesa revealed that it would be merging with German engineering giant Siemens' wind business, and the move was formalized almost a year later in April 2017. The original announcement came only a few months after BNEF's 2015 wind turbine figures were released, which saw Siemens and Gamesa account for fourth and fifth respectively, both with 3.1 GW worth of commissioned capacity. A year later, Gamesa stepped into fourth spot with 3.7 GW, as Siemens fell into eighth spot with 2.1 GW worth of commissioned capacity.

But when you combine two experienced wind turbine manufacturers, the result is unsurprising. In 2017, Siemens Gamesa commissioned 6.8 GW of onshore capacity, accounting for 15% of the global market share. What will be most interesting is to watch and see where Vestas and Siemens Gamesa sit at this time next year, after the latter gets to have a full year to compete.

"In 2017, quite a bit of distance opened up between GE in fourth place and the fifth-placed manufacturer, Germany's Enercon, with 3.1 GW," explained Tom Harries, senior wind analyst at BNEF and lead author of the report. "Six other turbine makers, from Europe and China, had between 1GW and 3GW commissioned last year."

The consolidation that we've seen highlighted by the Siemens Gamesa merger might continue to play out over the next few years, as well.

"We've seen a wave of mergers in the wind turbine manufacturing industry in the last few years, including the Siemens-Gamesa deal and Nordex's takeover of Acciona Windpower," added Albert Cheung, head of analysis at BNEF. "With a large number of small players outside the Big Four, it would be no surprise to see further consolidation."

As for offshore wind, the industry looks a lot different.

"In offshore wind, it was a very different story, with Siemens Gamesa continuing to be by far the biggest supplier globally, with 2.7 GW commissioned, and other players such as Sewind of China, MHI Vestas, and Senvion of Germany back at around half a gigawatt each," concluded Harries.

https://cleantechnica.com/2018/02/27/vestas-again-leads-onshore-wind-turbine-manufacturers-in-2017-siemens-gamesa-closing-the-gap/

26 February 2018

JTEKT Among Bearing Majors 2017 Result

Major Bearing Corporations 2017 Financials for SCHAEFFLER TIMKEN and SKF were released & recorded in News articles listed below, all produced very good results with 2018 forecast looking suitably better.


Other majors from JAPAN's NSK & NTN will be printed when numbers are finally released; JTEKT has submitted a good 2017 result making an overall excellent year for Bearing Industry majors and happy gatherings for investors

2017 RESULTS & COMMENTS: https://www.jtekt.co.jp/e/ir/f_jtekt_report.html 2017 JTEKT Former Koyo SeikoFormer Toyoda Koki

JTEKT corporate culture is characterized by optimism, drive and the will to succeed. Philosophy focuses to contribute to the happiness of people and the abundance of society through product manufacturing that wins the trust of society.

Want to join a team where creative thinking is encouraged, supported and rewarded?

JTEKT is one of the largest steering systems, driveline components, bearings, machine tools, electronic control devices, and home accessory equipment manufacturers in the world. A leading systems and development partner to the automotive, industrial and aerospace markets - and a great place to work


22 February 2018

Bearing Inventions Founders Financials & Compliance

Over the past couple of decades, international bearing business of Manufacturers & Distributors attitudes changed with the invention of BearingNet and BearingCode: both unique at first, highly controversial to some

Founders of BearingNet in 1994 John Bass & Ian McPherson gave the industry a system for streamline procurement in simple terms, making it possible to personally meet discuss and resolve global bearing trade with Conferences, guaranteeing End-Users Customer local & worldwide available service

Founder of BearingCode in 2006 Ian McPherson gave the industry a new system for global information service transparency compliance legal provisions not previously known by Manufacturers & Distributors and reported events relating to Government & other regulations

Today, BearingNet and BearingCode have big internet following with views & hits and other vital statistical information

Financially, both founders had different results: John Bass could not stay to enjoy his reward while Ian McPherson has never received his entitlement.
John's nephew Peter Annis was the computer operator (not bearings) who until 2006 did not convene conferences, received John's reward but also alleged received all of Ian McPherson's amount as original founder and operator - not a dime given McPherson

Compliance is quite easy to state but extremely difficult to execute. The new age of Artificial Intelligence (AI) makes regulation to compliance a rather empty threat of endless money statements particularly when collections are important to either party. Compliance by way of cartoons Walt Disney style promises, make game playing of Commerce a thing of the past to Inventors Founders Financials & Regulations relating to Bearing Business


19 February 2018

SKF Great 2017 Financials With 2018 Leads Field

Powerhouse bearing manufacturer SKF Industries turned heads with another great performance that keep extraordinary pundits happy

As global industry leader, SKF has footholds in all developed Countries with financial interests in major OECD markets, President CEO Alrik Danielson Alrik Danielson (130 KB JPEG) states SKF:

"Enters the first quarter 2018, we expect to see continued growth in all regions, with particular strength in Asia and Europe"


SKF Year-end report 2017

Gothenburg, 1 February 2018

Alrik Danielson, President and CEO:

"We have had a strong finish to 2017, a year characterized by strong demand in most markets. In the fourth quarter, net sales, at SEK 19.5 billion, grew organically by over 8%, with near- double-digit growth in Automotive.

Europe and Asia saw strong sales growth, 9% and 10%, respectively, driven by high general levels of industrial activity and a strong automotive market. In North America, sales growth was 5%.

Our focus on raising prices, for both distributors and OEMs, and controlling costs is bearing fruit. Our adjusted operating profit was SEK 2.1 billion in the quarter, an increase of SEK 350 million compared to last year. Our adjusted operating margin also improved, to 10.7% (9.3%).

Within the industrial business, increased sales volumes delivered an adjusted operating margin of 12.9% (11.0%). We have secured several new business wins during the quarter, including a new, multi-year framework agreement with ArcelorMittal. This agreement covers bearings, units, seals and remanufacturing services for 14 steel mills across Europe and Northern Africa.

The development of our Rotating Equipment Performance offer continues, with the launch of the next generation of our Enlight Center cloud-based data collection platform.

The automotive business, which saw improved sales volumes, remains focused on technology development and reducing costs, delivering an adjusted operating profit margin of 5.9% (5.2%) in the seasonally weak fourth quarter. We are also making progress within the powertrain electrification area. Our components have been selected by several automakers, including supplying bearings for the next-generation electric powertrain platform of a leading European OEM.

Continued strengthening of the balance sheet remains a priority for us. Cash flow generation was strong, at SEK 1.7 billion, an improvement of SEK 300 million compared to the previous year. Our net debt to equity ratio, now at 71%, is well below our target of 80%.

Entering the first quarter 2018, we expect to see continued growth in all regions, with particular strength in Asia and Europe.

Key figures, SEKm Q4
2017
Q4
2016
2017 2016
Net sales* 19,481 18,732 77,938 72,588
Adjusted operating profit** 2,092 1,741 9,096 7,544
Adjusted operating margin, %** 10.7 9.3 11.7 10.4
Items affecting comparability** -75 -155 -504 -17
Operating profit 2,017 1,586 8,592 7,527
Operating margin, % 10.4 8.5 11.0 10.4
Operating margin, % 10.4 8.5 11.0 10.4
Adjusted profit before taxes** 1,859 1,531 8,162 6,756
Profit before taxes 1,784 1,376 7,658 6,739
Net cash flow after investments before financing 1,704 1,428 4,753 7,717
Basic earnings per share 4.12 1.95 12.02 8.75

* Cash discounts are from January 1, 2017 classified as a reduction of Net sales. Previously published figures have been restated accordingly.
** Please see page 15 of report for definitions

Net sales change y-o-y, % Organic Structure Currency Total
Q4 2017 8.2 -0.6 -3.6 4.0
FY 2017 8.2 -1.6 7.4 0.8

Organic sales change in local currencies, per region y-o-y, % Europe North
America
Latin
America
Asia Middle East & Africa
Q4 2017 9.1 4.7 7.3 10.0 13.3
FY 2017 5.8 7.7 10.6 11.5 14.8

Dividend proposal
The Board has decided to propose an unchanged dividend of SEK 5.50 per share to the Annual General Meeting.

Outlook for the first quarter 2018

Demand compared to the first quarter 2017

The demand for SKF's products and services is expected to be higher for the Group, including Industrial and Automotive. Demand is expected to be higher in Europe, relatively unchanged in North America, significantly higher in Asia and slightly higher in Latin America.

Demand compared to the fourth quarter 2017

The demand for SKF's products and services is expected to be slightly higher for the Group and Industrial and higher for Automotive. Demand is expected to be higher in Europe, North America and Latin America and lower in Asia.

SKF Year-end report 2017 (864 KB PDF)

Aktiebolaget SKF


19 February 2018

Maersk Up 13% Strong Growth & Cyber-Attack

A.P. Møller - Mærsk A/S the largest container ship and supply vessel operator in the World since 1996. The company is based in Copenhagen, Denmark with subsidiaries and offices across 130 countries, around 88,000 employees including energy-related investments lined to the Bearing Industry https://en.wikipedia.org/wiki/Maersk


http://www.seanews.com.tr/thordon-bearings-develops-new-shaft-seal-for-the-maritime-industry/162174/


February 9, 2018 07:50 CET
Previous Release | Next Release

Annual Report 2017

Attachment Add to Briefcase

The Annual Report 2017 for A.P. Møller - Mærsk A/S is hereby enclosed.
CEO of A.P. Møller - Mærsk A/S, Søren Skou, states:

"The past year was unusual for A.P. Moller - Maersk, characterized by a cyber-attack and operational challenges in a few hubs. We succeeded in growing the revenue by 13%, improving cash flow and increasing underlying profits from a low 2016 base.

However, the financial result shows that significant improvements are still needed. On the other hand, when we look at the strategic business transformation progress throughout the year has indeed been satisfactory. We have taken the first steps towards the integration of our container shipping, ports and logistics businesses and our digital transformation is taking shape.

At the same time, we have found new owners for part of the energy-related business units.

After a successful acquisition of Hamburg Süd, the integration is off to a good start, with both carriers growing volumes during the first months. A smooth integration of Hamburg Süd remains a top priority for 2018."

Contact persons:
Head of Investor Relations, Stig Frederiksen, tel. +45 3363 3106
Head of External Communication, Signe Wagner, tel. +45 3363 1901


14 February 2018

Timken Leadership Welcomed With Anti Corruption Practice

The Timken Company has again shown the Bearing Industry that Corruption cannot be tolerated, with positive results and financial gains from the Zero approach to all kinds of illegal operations that have plagued the Bearing Industry for many years.

And with support of Schaeffler EU new image to anti-corruption, we are witnessing a major change in Best Bearing Business Practices that will only enhance our Industry

............................................................................................................

Timken Named One of the World's Most Ethical Companies for the Eighth Time

NORTH CANTON, Ohio, Feb. 12, 2018 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in bearings and mechanical power transmission products, has once again been recognized by the Ethisphere Institute as one of the world's most ethical companies.


"This award is in recognition of our more than 15,000 associates globally who live our core values every day and possess great integrity and respect for each other and the work we do," said Richard G. Kyle, Timken president and CEO.

Timken is one of 135 organizations selected as a 2018 World's Most Ethical Company®. The business has been recognized for eight years and is one of only five companies in the Industrial Manufacturing category to receive this designation, underscoring Timken's commitment to leading ethical business standards and practices.

The Ethisphere Institute advances the global conversation on corporate ethics, responsibility and leadership. It has developed a framework that assesses an organization's performance in five categories: ethics and compliance program (35 percent), corporate citizenship and responsibility (20 percent), culture of ethics (20 percent), governance (15 percent) and leadership, innovation and reputation (10 percent)


8 February 2018

Timken Power 4th Quarter in Strong 2017, Continues 2018

- Reports fourth-quarter sales of $778 million, up 19 percent from last year
- Generated fourth-quarter earnings per diluted share of $0.37 on a GAAP basis, with adjusted earnings per diluted share of $0.68
- Expects strong growth in 2018 with GAAP earnings per diluted share of $3.05 to $3.15 and adjusted earnings per diluted share of $3.20 to $3.30


NORTH CANTON, Ohio, Feb. 7, 2018 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and mechanical power transmission products, today reported fourth-quarter 2017 sales of $778 million, up 18.8 percent from the same period a year ago. The increase was driven by organic growth across most end-market sectors led by off-highway and industrial distribution, as well as the benefit of acquisitions and currency.


In the fourth quarter, Timken posted net income of $29.2 million or $0.37 per diluted share, versus a net loss of $(6.9) million or $(0.09) per basic share for the same period a year ago. The change year-over-year reflects improved performance across the business, as well as lower pension-related and impairment and restructuring charges, partially offset by lower CDSOA income1 and higher income tax expense. The higher income tax expense was driven by one-time charges of $35.3 million recorded as a result of the enactment of the Tax Cuts and Jobs Act of 2017, partially offset by discrete and other tax benefits recorded during the period.

Excluding special items (detailed in the attached tables), adjusted net income in the fourth quarter of 2017 was $53.9 million or $0.68 per diluted share, up from $40.2 million or $0.51 per diluted share for the same period in 2016. The improvement reflects higher volume, favorable manufacturing performance and the benefit of acquisitions, partially offset by unfavorable price/mix and higher operating costs.

"Our strong fourth-quarter results capped an excellent 2017 for The Timken Company," said Richard G. Kyle, Timken president and chief executive officer. "We posted solid revenue growth each quarter, responded well to our customers' increased demand for Timken products and services and delivered significantly improved financial results. We advanced our strategy across all fronts, and we move into 2018 a stronger company well prepared to capitalize on the expected continued growth in our end markets."

1 Represents funds received by the company under the U.S. Continued Dumping and Subsidy Offset Act (CDSOA).

2017 Full-Year Results

For 2017, sales were $3 billion, up 12.5 percent compared with 2016. The increase was driven by organic growth across most end-market sectors led by off-highway, industrial distribution and heavy truck, and the benefit of acquisitions and currency, partially offset by lower demand in the rail sector.

Net income was $203.4 million or $2.58 per diluted share for the year, compared with net income of $140.8 millionor $1.78 per diluted share a year ago. The change year-over-year reflects improved performance across the business, as well as lower pension-related and impairment and restructuring charges, and a lower income tax rate driven primarily by net discrete and other tax benefits recorded during the year, partially offset by lower CDSOA income1.

Excluding special items (detailed in the attached tables), adjusted net income was $207.5 million or $2.63 per diluted share in 2017. This compares with $169 million or $2.13 per diluted share in 2016. The improvement in adjusted net income reflects higher volume, favorable manufacturing performance and the benefit of acquisitions and currency, partially offset by unfavorable price/mix and higher operating costs.

Among significant accomplishments during the year, the company expanded its mechanical power transmission portfolio and geographic reach. The additions of Torsion Control Products, Groeneveld Lubrication Solutions and PT Tech advanced the company's position in industrial couplings and lubrication systems, and introduced industrial clutches and brakes to the Timken portfolio. The company also furthered its leadership position in engineered bearings, opening a state-of-the-art manufacturing plant in Romania and entering into a definitive agreement to acquire ABC Bearings in India. Additionally, the company increased its quarterly dividend in May and repurchased nearly one million shares of stock, returning a total of $127 million to shareholders during the year.

Fourth-Quarter 2017 Segment Results

Mobile Industries reported sales of $425.8 million, up 24.4 percent compared with the same period a year ago. Acquisitions added revenue of $42.7 million in the quarter, or 12.5 percent. Excluding acquisitions, revenue was up 11.9 percent, driven primarily by increased demand in the off-highway, heavy truck and automotive sectors, and favorable currency.

Earnings before interest and taxes (EBIT) in the quarter were $32 million or 7.5 percent of sales, compared with a loss of $(8.2) million or (2.4) percent of sales for the same period a year ago. The increase in EBIT reflects the impact of higher volume, favorable manufacturing performance and the benefit of acquisitions, partially offset by unfavorable price/mix and higher logistics, material and SG&A costs. The current period also reflects lower pension-related and impairment and restructuring charges.

Excluding special items (detailed in the attached tables), adjusted EBIT in the quarter was $41.4 million or 9.7 percent of sales, compared with $28.8 million or 8.4 percent of sales in the fourth quarter last year.

Process Industries sales of $352.2 million increased 12.7 percent from the same period a year ago, driven primarily by strong demand in the industrial distribution and general industrial sectors, increased military marine revenue and favorable currency.

EBIT for the quarter was $55.6 million or 15.8 percent of sales, compared with EBIT of $25.8 million or 8.3 percent of sales for the same period a year ago. The increase in EBIT was driven by higher volume, favorable manufacturing performance and lower pension-related charges, partially offset by unfavorable price/mix and higher logistics and SG&A costs.

Excluding special items (detailed in the attached tables), adjusted EBIT in the quarter was $56.5 million or 16 percent of sales, compared with $47.1 million or 15.1 percent of sales in the fourth quarter last year.

2018 Outlook

The company expects 2018 revenue to be up approximately 9 to 10 percent in total versus 2017. This includes expected organic growth of 5 to 6 percent plus the benefit of acquisitions made during 2017 and favorable currency. Within its segments, the company estimates for full-year 2018:

Mobile Industries sales to be up approximately 9 to 11 percent, driven primarily by organic growth in the off-highway and heavy truck sectors, as well as the benefit of acquisitions and favorable currency.

Process Industries sales to be up approximately 8 to 10 percent, reflecting growth in the industrial distribution, services and general industrial sectors, and favorable currency.

"We enter 2018 with broad strength across our end markets," said Kyle. "We will continue to focus on serving our customers, developing innovative product solutions, operating with excellence and building a stronger Timken Company. We expect our execution combined with robust markets will result in another year of strong revenue and earnings growth with margin expansion."

Timken anticipates 2018 earnings per diluted share to range from $3.05 to $3.15 for the full year on a GAAP basis. Excluding special items (detailed in the attached tables), the company expects 2018 adjusted earnings per diluted share to range from $3.20 to $3.30.


4 February 2018

Bearings For Wind Turbines Now Questioned

"The life of a bearing is generally defined as the ‘L10' life, which is the duration after which 10% of the bearings will fail. If L10 for one bearing is 20 years, then there is a 10% chance that the bearing will fail in less than 20 years. This is important because it forces manufacturers and wind operators to think about "lifetime" in terms of probabilities"
Note: Diagrams highlighted

Why wind-turbine gearboxes fail to hit the 20-year mark

By Dr. John Coultate, Head of Engineering Development & Mike Hornemann, Reliability Engineer
Romax InSight

A blast from the past. Here is an example of a 2-parallel stage gearbox design,
typical of a mid-1990's wind turbine


As utility-scale wind turbines have developed from the kilowatt-class to the multi-megawatt machines installed today, the components inside a nacelle have also evolved to keep up with new power demands.

Drivetrains, in particular, have had to change significantly to meet stronger, more variable wind loads and higher power levels — and without significant increases in costs. So, engineers took on the challenge and manufacturers delivered.

What was once an off-the-shelf, industrial gearbox is now uniquely designed to meet the harsh conditions typical of a multi-megawatt turbine. A modern geared turbine typically has a 3-stage gearbox with a low-speed planetary stage and two parallel stages. By using planetary gears, designers created high-powered gearboxes that are durable enough to withstand harsh loading, yet compact enough to maintain a reasonable nacelle size.

This gearbox design has also proven economical for turbines with power ratings between 500 kW and 2.5 MW. However, longevity is the one challenge still unmet in the wind-turbine gearbox industry. Turbine gearboxes are typically given a design life of 20 years, but few make it past the 10-year mark.

Why the discrepancy? Part of the answer is in the way that gear and bearing lives are defined. The life of a gearbox component is stochastic, not deterministic. This means that it is impossible to predict with accuracy when a component will fail, even though it is possible to estimate the probability given certain parameters.

A modern-day design. This 3-stage (planetary / parallel / parallel) design is common to more recent gearboxes.


Keep in mind that wind-turbine drivetrains undergo severe and variable transient loading during start-ups, shutdowns, emergency stops, and grid connections. A turbine's loading depends on its location in the wind farm and the terrain. Load cases that result in torque reversals may be particularly damaging to bearings because rollers may skid during the sudden relocation of the loaded zone. Micropitting, a form of surface fatigue, is one example of damage in bearings that can affect its longevity.

The life of a bearing is generally defined as the ‘L10' life, which is the duration after which 10% of the bearings will fail. If L10 for one bearing is 20 years, then there is a 10% chance that the bearing will fail in less than 20 years. This is important because it forces manufacturers and wind operators to think about "lifetime" in terms of probabilities.

It is also important to consider that a wind turbine has more than one bearing. A typical drivetrain has 20 to 25 bearings, including the main bearings, gearbox, and generator bearings. So, what happens if we combine the L10 life for every bearing in a drivetrain to calculate a "system-level life?" A simple calculation for a drivetrain with 25 bearings, all with an L10 design life of 20 years, indicates that the probability of one or more bearings failing within 20 years is 93%.

A typical wind-turbine contains 20 to 25 bearings, all of which must be considered in a system-level reliability calculation of life expectancy.


Based on this calculation, nearly all gearboxes in a wind farm are likely to fail within 20 years. This may seem shocking, but it is a reality in the field. Many wind operators will attest that most gearboxes have been changed or gone through an up-tower repair of some kind, such as a new high-speed stage shaft or bearings, long before its 20-year life is up.

Now let's ask how many gearboxes will fail within seven years? The same calculation indicates that the probability of one or more bearings failing within seven years is 37%. This means more than one-third of gearboxes will suffer some sort of bearing failure.

These results come from a simplified calculation and are only intended to show overall trends, but they show some startling findings. Unfortunately, the calculation can under-estimate gearbox failure rates because it fails to account for non-fatigue failure modes. But the good news is that, in practice, some bearings offer a design life in excess of 20 years because their size is dictated by other factors, such as stiffness or safety factors during extreme load cases.

This is why the term "design life" is misleading, and one reason why many gearboxes in the field are failing in less than 20 years. One way to mitigate these failures is to employ more reliable engineering methods throughout the entire lifetime of a turbine. For example, using design standards and simulations, along with reliable operational data and historical failure rates, it is possible to provide accurate predictions of drivetrain failures.

2 February 2018

Brokerages Expect RBC Bearings Post Quarterly $162.97 Million Sales


Resource from: https://ledgergazette.com/2018/02/01/zacks-brokerages-expect-rbc-bearings-incorporated-roll-will-post-quarterly-sales-of-162-97-million.html


Analysts forecast that RBC Bearings Incorporated (NASDAQ:ROLL) will report $162.97 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for RBC Bearings' earnings. The highest sales estimate is $163.74 million and the lowest is $162.20 million. RBC Bearings posted sales of $146.66 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.1%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, February 6th.

According to Zacks, analysts expect that RBC Bearings will report full-year sales of $162.97 million for the current fiscal year, with estimates ranging from $664.50 million to $676.78 million. For the next financial year, analysts expect that the company will post sales of $729.25 million per share, with estimates ranging from $717.70 million to $740.79 million. Zacks' sales averages are a mean average based on a survey of research firms that follow RBC Bearings.

RBC Bearings (NASDAQ:ROLL) last posted its earnings results on Friday, November 3rd. The industrial products company reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.02). The firm had revenue of $164.30 million during the quarter, compared to analysts' expectations of $164.56 million. RBC Bearings had a return on equity of 11.10% and a net margin of 11.18%. RBC Bearings's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share.

A number of equities research analysts have issued reports on the company. CL King assumed coverage on RBC Bearings in a research note on Wednesday, November 29th. They set a "buy" rating and a $142.00 target price on the stock. Zacks Investment Research cut RBC Bearings from a "hold" rating to a "sell" rating in a research note on Tuesday, November 7th. BidaskClub cut RBC Bearings from a "buy" rating to a "hold" rating in a research note on Tuesday, December 12th. ValuEngine cut RBC Bearings from a "buy" rating to a "hold" rating in a research note on Friday, December 1st. Finally, Drexel Hamilton started coverage on RBC Bearings in a research note on Thursday, December 21st. They issued a "buy" rating and a $140.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of "Buy" and an average price target of $141.50.

Shares of RBC Bearings (NASDAQ ROLL) traded up $4.83 during mid-day trading on Monday, reaching $131.51. The company's stock had a trading volume of 164,722 shares, compared to its average volume of 91,542. RBC Bearings has a fifty-two week low of $88.70 and a fifty-two week high of $139.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 4.68. The stock has a market capitalization of $3,082.53, a P/E ratio of 42.94, a PEG ratio of 5.80 and a beta of 1.35.

In other news, VP Thomas C. Crainer sold 15,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $120.76, for a total transaction of $1,811,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard J. Edwards sold 10,000 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $121.54, for a total value of $1,215,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,487 shares of company stock worth $4,632,657 in the last ninety days. Insiders own 3.70% of the company's stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its stake in RBC Bearings by 1.3% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,287,621 shares of the industrial products company's stock worth $286,296,000 after acquiring an additional 29,134 shares during the last quarter. BlackRock Inc. raised its stake in RBC Bearings by 2.8% in the 2nd quarter. BlackRock Inc. now owns 1,844,217 shares of the industrial products company's stock worth $187,666,000 after acquiring an additional 49,694 shares during the last quarter. Vanguard Group Inc. raised its stake in RBC Bearings by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,817,613 shares of the industrial products company's stock worth $184,960,000 after acquiring an additional 12,863 shares during the last quarter. Wasatch Advisors Inc. raised its stake in RBC Bearings by 20.4% in the 4th quarter. Wasatch Advisors Inc. now owns 1,198,672 shares of the industrial products company's stock worth $151,512,000 after acquiring an additional 203,366 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in RBC Bearings by 2.2% in the 3rd quarter. Wells Fargo & Company MN now owns 629,102 shares of the industrial products company's stock worth $78,732,000 after acquiring an additional 13,670 shares during the last quarter. Hedge funds and other institutional investors own 98.81% of the company's stock.


23 January 2018

Bearing Imagination & Bearing Employment

News Item 27 December 2017 - Bearing Industry *Monopoly, Cyber Connection, Creativity and Enterprise, received many views

The matter of 'imagination' was not included although the importance to the Bearing Industry now carries high significance will continue to grow especially referring to AI (Artificial Intelligence) or AGI (Artificial General Intelligence)

This type of AI imagination normally contains a photo of the subject you need to identify, a little like John & Betty books we once learnt at primary school and getting it wrong could cost your job, the worst kind of scenario. Therefore, getting it right first time around is important more or less a constant employment tester on the run

For example, BearingCode receives many of these types of 'tester' photos particularly from a certain Bearing Company. If you really believe its easy, then we also enclose below the English dictionary meaning to assist your quick assessment


imagination

Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia, Wikipedia.

beyond imagination

Inconceivable; outside of the realm of imagination, expectation, or anticipation. I find it simply beyond imagination the greed of all these big corporations. That film was amazing, it was actually beyond imagination.
See also: beyond, imagination

leave nothing to the imagination

1. Of clothing, to hide or cover very little (of the body) or be very revealing. I was quite embarrassed when John showed up for our date wearing ill-fitting jeans that left nothing to the imagination.
2. To present (something) in a very stark or obvious manner. The film is relentlessly blunt with its anti-religious message, leaving nothing to the imagination from beginning to end.
See also: imagination, leave, nothing

leave little to the imagination

1. Of clothing, to hide or cover very little (of the body) or be very revealing. I was quite embarrassed when John showed up for our date wearing ill-fitting jeans that left little to the imagination.
2. To present (something) in a very stark or obvious manner. The film is relentlessly blunt with its anti-religious message, leaving little to the imagination from beginning to end.
See also: imagination, leave, little

by no stretch of the imagination

Unable to happen within, at, or beyond the limits of the imagination; in no possible situation or from no conceivable perspective. By no stretch of the imagination do I think our team has a chance of winning tonight. Tommy does all right in school, but by no stretch of the imagination would I call him a genius.
See also: imagination, of, stretch

figment of (one's)/the imagination

An experience that initially is thought to be real but is actually imagined. I thought I heard the sound of my front door opening last night but it turned out to be a figment of my imagination.
See also: figment, imagination, of

flight of imagination

An imaginative but unrealistic idea. No one took his campaign for office seriously because his proposed solutions to problems were filled with flights of imagination.
See also: flight, imagination, of

be a figment of (one's/the) imagination

To be an imagined experience (especially after one has initially thought it to be real). I thought I heard the sound of my front door opening last night but it turned out to be a figment of my imagination.
See also: figment, imagination, of

by any stretch of the imagination

As much or as far as one is able to imagine or believe. Usually used in the negative. It's looking like we're not going to win by any stretch of the imagination. I can't see by any stretch of the imagination how we're going to pull this off.
See also: any, imagination, of, stretch

capture (one's) imagination

To hold one's interest or spark one's creativity. I know it sounds strange, but his talk on the importance of obtuse angles really captured my imagination. That movie captured his imagination so much that it inspired him to become a screenwriter.
See also: capture, imagination

by any stretch of the imagination

as much as anyone could imagine; as much as is imaginable. (Often negative.) I don't see how anyone by any stretch of the imagination could fail to understand what my last sentence meant.
See also: any, imagination, of, stretch

capture someone's imagination

Fig. to intrigue someone; to interest someone in a lasting way; to stimulate someone's imagination. The story of the young wizard has captured the imagination of the world's children.
See also: capture, imagination

figment of one's imagination

Something made up, invented, or fabricated, as in "The long dishevelled hair, the swelled black face, the exaggerated stature were figments of imagination" (Charlotte Brontë, Jane Eyre, 1847). This term is redundant, since figment means "product of the imagination." [Early 1800s]
See also: figment, imagination, of

not by any stretch of the imagination or by no stretch of the imagination

If you say that something is not true or possible by any stretch of the imagination or by no stretch of the imagination, you mean that it is completely untrue or impossible. He had several jobs, all of them involving driving but none of them well-paid by any stretch of the imagination. By no stretch of the imagination could his speech be described as impersonal.
See also: any, imagination, not, of, stretch

by any stretch of the imagination

If something is not true by any stretch of the imagination, it is definitely not true. The Danube was not by any stretch of the imagination blue. Note: People sometimes just say by any stretch. He is not regarded as a serious biographer by any stretch.
See also: any, imagination, of, stretch

by no (or not by any) stretch of the imagination

used to emphasize that something is definitely not the case. 1996 New Statesman Though it is by no stretch of the imagination a political paper, its owner has a reputation as an outspoken critic of China.
See also: imagination, of, stretch

a figment of somebody's imagination

something which somebody only imagines: Doctor, are you suggesting the pain is a figment of my imagination?
See also: figment, imagination, of

by no stretch of the imagination, not by any stretch of the imagination

it is completely impossible to say; by no means: By no stretch of the imagination could you call him clever. You couldn't say that factory was beautiful, not by any stretch of the imagination!
See also: imagination, of, stretch

Farlex Partner Idioms Dictionary © Farlex 2017

16 January 2018

Schaeffler's Great Result Encourage Bearing Industry

Schaeffler again released strong numbers for 4th quarter 2017 with consistency and future growth forecast in 2018

This result is an attraction to bearing Industry investment, not only to Germany but in Global terms mainly due to Schaefflers long term investment program into developing countries with tactical market knowledge

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SCHAEFFLER REPORTS STRONG GROWTH IN 4TH QUARTER 2017

2018-01-15 | HERZOGENAURACH, GERMANY

  • Preliminary revenue figures for 2017 announced
  • 2017 revenue increases by 5.9 percent to 14.0 billion euros
  • Revenue guidance of 4 - 5 percent in growth (at constant currency) for the full year 2017 exceeded
  • Strong 4th quarter with growth of 8.5 percent at constant currency
  • Three divisions starting January 1st and new business unit for E-Mobility

Global automotive and industrial supplier Schaeffler announced its preliminary revenue figures for 2017 today. The company increased its revenue to approximately 14.0 billion euros (prior year: approximately 13.3 billion euros), growing by 5.9 percent at constant currency. Fourth quarter revenue rose to approximately 3.5 billion euros (prior year quarter: approximately 3.4 billion euros), up 8.5 percent at constant currency.

This represents one of the highest quarterly growth rates the company has generated in recent years. As a result, Schaeffler has closed the year 2017 with revenue significantly above the revenue guidance of 4 - 5 percent (at constant currency) for the full year 2017.

Both of the company's divisions have contributed to this encouraging performance. While Automotive division revenue increased to 10.9 billion euros (prior year: approximately 10.3 billion euros), representing a constant currency growth rate of 5.9 percent, the Industrial division grew its revenue to approximately 3.1 billion euros in 2017. At constant currency, this represents a growth rate of 5.6 percent. In the 4th quarter, the Industrial division's constant currency growth rate of approximately 9 percent even exceeded the 8.3 percent constant currency growth of the Automotive division. These figures demonstrate that the Industrial division has returned to a long-term growth path.

Thanks to the strong 3rd and 4th quarters, the Automotive division has once again grown faster than the market, i.e. global production of passenger cars and light commercial vehicles, for the full year. Given market growth of approximately 2.3 percent in 2017, the division has outperformed the market by 3.6 percent. Outperformance for the strong 4th quarter was as high as 7.2 percent.

All regions of the Schaeffler Group contributed to the increase in revenue in 2017. The Greater China region once again turned in the highest constant currency growth rate of 24.1 percent.

Asia/Pacific was up 5.7 percent at constant currency. In the Americas region, revenue was up 4.6 percent at constant currency, while Europe expanded by 1.4 percent at constant currency.

"We have once again continued along our successful course in 2017. The positive growth trend in the latter half of the years was particularly encouraging. We have exceeded our revenue guidance of 4 to 5 percent for the full year. We expect the positive revenue trend to continue in 2018," said Klaus Rosenfeld, CEO of Schaeffler AG.

The strong growth of the Automotive division was driven by both Automotive OEM (up 6.6 percent at constant currency) and Automotive Aftermarket (up 3.2 percent at constant currency). As previously announced in October 2017, effective January 01, 2018, the Automotive Aftermarket was separated from the Automotive division of Schaeffler AG and set up as a stand-alone division headed up by Michael Söding (55). Furthermore, the company has also created an independent business division for E-Mobility, bringing together all products and system solutions for hybrid and pure battery electric vehicles as of January 01, 2018.

"With the new organizational structure, we are continuing to consistently drive the transformation of the Schaeffler Group in 2018. We want to further improve our focus on the needs of our customers and we continue to concentrate on growth," Rosenfeld explained.

On March 07, 2018, Schaeffler AG will present its results during its annual financial press conference in Munich.

Forward-looking statements and projections
Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. No one undertakes any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. You should not place any undue reliance on forward-looking statements which speak only as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.