ABC Bearings is engaged in the business of engineering, product design, manufacturing, distribution and sale of bearings including inter alia taper roller bearings (contributes over 80% of the total revenue- Mar 16), cylindrical roller bearings, spherical roller bearings and slewing bearings; and procurement, distribution and sale of other bearings, grease, oil and UJ Cross not manufactured by the company but sold under the “ABC” brand. It serves an established original equipment customer base in India, focusing on heavy truck and off-highway industries. Company shares are listed on BSE.

Timken India Limited, the country’s third-largest bearings maker by sales, engineers and manufactures bearings and mechanical power transmission components including gear drives, couplings, belts and chain. They also provide industrial services including bearing repair and powertrain rebuild. It also imports products such as spherical roller bearing, cylindrical roller bearing and specialty roller bearing from various group entities. Company’s Jamshedpur plant has awarded International Railway Standard certification which enables them to export Rail Products even to European Rail Market. Shares of the company are listed on BSE and on NSE.

Transaction

Scheme of Amalgamation between ABC Bearing Ltd (Transferor) and Timken India Ltd (Transferee) and their respective shareholders and creditors. Consideration being 5 equity shares of Rs 10 each of Transferee company for every 8 equity shares of Rs 10 each of transferor company. Appointed date is date on which the last of the sanction orders is passed or such other date as the NCLT may direct.

Financials

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