JTEKT Corp. said it has created a new business unit, Koyo Bearings USA LLC, following the acquisition of Timken Co.'s (TKR) Needle Roller Bearings business.
The acquisition combines the strength, heritage and intellectual capital of Koyo and Torrington Needle Roller Bearings to create one of the world's largest needle roller bearing manufacturers, the company said.
Koyo Bearings will manufacture needle roller bearings under the Koyo Torrington Needle Roller Bearings brand, which features an extensive range of radial and thrust needle roller bearings, as well as bearing assemblies and loose needles for automotive and industrial applications.
The entire management team and its 3,400 associates will transition into the new business unit. Timken's former president of needle roller bearings, Ken Hopkins, has been named president and chief operating officer of Koyo Bearings USA, which will manage the global business unit.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.