NRB Bearings Limited on Tuesday announced the formation of a strategic joint venture with Italy-based Unitec Group, part of the Mondial Group, as part of its high-growth and diversification strategy aimed at strengthening its presence in industrial cylindrical roller bearings (CRBs).
NRB Bearings, India’s leading manufacturer of cylindrical and needle roller bearings and a key supplier to global automotive OEMs, has been steadily expanding beyond automotive applications into industrial segments such as off-highway equipment, construction machinery, industrial gearboxes, agriculture and general engineering. The company also plans to enter high-value segments including aerospace, defence and robotics.
The partnership with Unitec is expected to significantly enhance NRB’s technological capabilities and accelerate its expansion in precision industrial CRBs. Unitec Group is a reputed European manufacturer of high-precision industrial bearings, with strong expertise in application-specific and customized solutions. The Mondial Group, with a legacy of over 60 years, generates annual revenues exceeding €60 million and serves prominent global OEMs, including Bonfiglioli, SAME, Leonardo, ITEMA and MAINA, as well as several robotics and automation players.
Under the agreement, NRB and Unitec will set up a joint venture company in Uppal, Hyderabad, which will operate a state-of-the-art, LEED-certified manufacturing facility to produce industrial cylindrical roller bearings. The plant will primarily serve industrial end-markets, with scope to supply selected mobility applications by mutual agreement. Unitec will provide technical, operational and engineering support, while committing to buy back 20% of the joint venture’s annual production, ensuring assured offtake and better capacity utilization.
NRB Bearings will hold a majority stake of at least 75% in the joint venture, while Unitec Group will own up to 25%, subject to regulatory approvals. The board of the joint venture will have up to five directors, initially comprising three nominated by NRB and one by Unitec. Both partners have also agreed not to compete in the manufacture, distribution or sale of industrial CRBs in India.
As part of the commercial arrangement, Unitec Group will act as the exclusive selling agent in Italy for the joint venture’s industrial CRB products and for its existing customers. NRB will serve as the exclusive selling agent in India for products manufactured by the joint venture as well as those of Unitec Group.
Commenting on the development, Harshbeena Zaveri, Managing Director of NRB Bearings Limited, said the joint venture represents a significant milestone in the company’s industrial growth journey. “Unitec Group’s engineering depth, customization expertise and established OEM relationships across Europe complement NRB’s manufacturing excellence and scale-up capabilities. Together, we will be able to address a broader range of industrial applications and deliver advanced bearing solutions to demanding OEMs in India and global markets,” she said.
Zaveri added that NRB remains focused on improving profitability through cost discipline, efficient working capital management and selective investments in high-margin segments, while building long-term technology leadership. “This collaboration will strengthen NRB’s position as a trusted global supplier of high-performance bearing solutions and create sustainable value for all stakeholders,” she said.