POSTED: APRIL 2006

NEWS RELEASE

Hoover Precision Products, Inc. acquires Chongqing Steel Ball Company

Hoover Precision Products, Inc., a wholly owned subsidiary of Tsubaki Nakashima, has purchased Chongqing Steel Ball Company, Chongqing, China.

Chongqing Steel Ball was founded in 1968 and privatized in 1998. Chongqing employs approximately 300 people and has sales of approximately $8.4 million.

This acquisition will help meet the rapidly growing demand for bearing balls from major bearing companies locating manufacturing facilities in China.

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