According to the company, the new technology will allow for more precise and efficient bearing manufacturing, resulting in improved product quality and reduced production costs. The investment is part of the company's strategy to stay competitive in a rapidly evolving market.

The primary function of a bearing is to enable the controlled transfer of loads and motion while minimizing friction and wear. Bearings achieve this through the use of rolling elements, such as balls or rollers, or through sliding surfaces, depending on the specific type of bearing. By doing so, bearings help to maintain the integrity and alignment of rotating shafts, axles, and other mechanical components, ensuring smooth and efficient operation of the machinery.