FAG Hanwha Bearings Corp., a joint venture between Germany’s FAG Kugelfischer Georg Schafer AG and South Korea’s Hanwha Corp., reach an agreement that sees FAG purchasing the JV’s remaining shares. The decision for FAG to acquire the remaining 30% from Hanwha Corp. was a result of Hanwha’s decision to focus on its service industries, the companies say in a release. The JV, Korea’s largest manufacturer of automotive and industrial bearings, has been in operation since 1998. It has ...
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