New Hampshire Ball Bearings Inc. settles with the state of New Hampshire

Business Wire, April 17, 1995

PETERBOROUGH, N.H.--(BUSINESS WIRE)--April 17, 1995--New Hampshire Ball Bearings Inc. (NHBB), a major supplier of precision bearings and bearing products, Monday announced that the company has reached a settlement agreement with the state of New Hampshire regarding alleged violations of state waste management regulations.

NHBB has agreed to pay $100,000 to the state and $10,000 to the New Hampshire Charitable Foundation in support of the New Hampshire Comparative Risk Project. This settlement was reached without litigation or a judicial determination of liability.

``We are pleased to have reached this agreement. It has been our number one priority to settle this matter in a way that mutually benefits the state, the residents of New Hampshire and NHBB,'' said Gary Yomantas, president of NHBB. ``Our new management team is committed to contributing to the economic and environmental welfare of the state of New Hampshire.''

In addition, NHBB will invest a minimum of $187,850 over the next year on a supplemental environmental project which goes beyond the requirements of existing law and which will result in a substantial reduction in NHBB's waste stream.

This project was undertaken in connection with the settlement of an enforcement action taken by the state of New Hampshire for alleged violations of the New Hampshire Hazardous Waste Management Act.

With manufacturing facilities in Peterborough and Laconia, N.H., and Chatsworth, Calif., NHBB produces specialty and custom precision rod ends, sphericals, composite components and miniature and instrument bearings, as well as ball and cylindrical roller bearings. NHBB is a member of the Minebea Group of companies.

CONTACT: New Hampshire Ball Bearings Inc.

Gary Yomantas, 818/993-4100

or

Capital Relations Inc.

Phyllis Grabot/Bonnie Quintanilla, 805/494-0830