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 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.