Chemical company DuPont de Nemours Inc DD has entered into an agreement with Menatek Defense Technologies regarding the global bearing market.
The collaboration between the two companies involves NAZ Bearings, a bearing that is self-lubricating and maintenance free. The financial terms were not disclosed.
The partnership will leverage DuPont’s ability to deliver tailor-made material solutions for wear and friction resistance and Menatek’s design and manufacturing capabilities.
The combined capabilities is expected to result in a superior bearing capable of delivering ultra-high performance under heavy static and dynamic loads.
“This collaboration will bolster our leadership position in the industry and enable us to deliver greater value to our customers globally,” said Bora Kılıç, DuPont EMEA Regional Business Director, MOLYKOTE & Vespel.
The agreement would provide a broad product range for users in the defense industry, as well as for those in the aerospace, high-speed train, tram, metro, wind turbine, and industrial platforms.
Price Action: DD shares are trading higher by 0.92% at $74.11 on the last check Monday.
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