Ningbo, China – Amsted Seals and Forming, a Chicago-based producer of oil, grease and bearing seals, has acquired Clark Seals Ningbo in northeast China, increasing its presence in the Asian market.
Financial details of the acquisition were not disclosed. The 96-press facility now will be known as Amsted Seals Ningbo, according to Amsted.
The 128,000-sq.-ft. facility in Zhejiang Province, built in 2012, produces shaft seals, bearing seals and other sealing products for the rail, heavy duty truck, appliance, automotive, agriculture and construction, industrial, and outdoor power and recreation industries.
"We're excited to welcome the Ningbo facility into our... and be better positioned to respond to our customers' needs in the most cost-efficient manner," said Michael Carter, president of Amsted Seals and Forming, "
Amsted said the deal included a 10-year agreement with Clark Seals LLC of Tulsa, Oklahoma — the former owner of Clark Seals Ningbo – to be the preferred distributor for certain sealing products.