We shall be seeking an urgent meeting to try and prevent the loss of 350 jobs in the North East
North East Mayor Kim McGuinness is set to seek an urgent meeting with NSK Bearings following news today it may close its operations in Peterlee in 2027.
Tokyo-headquartered NSK Ltd has announced that its European manufacturing subsidiaries, NSK Bearings Europe Ltd and AKS Precision Ball Europe Ltd, have entered into formal collective consultation with its union and elected representatives on a proposal to withdraw production from the Peterlee sites.
The company said that, due to persistent challenges in the profitability of locally manufactured products, it has been implementing measures such as withdrawing from unprofitable businesses and reorganising the production sites.
Mayor Kim said: “NSK Bearings has become part of the fabric of Peterlee down the years. Most families will know someone working at NSK and news it might be closing down operations in the town will come as a huge shock.
“I am in touch with the unions representing NSK’s workers and we shall be seeking an urgent meeting with the owners to do whatever we can to keep the firm in Peterlee.”
The withdrawal from Peterlee forms part of these ongoing structural reforms. NSK is consulting with all relevant stakeholders regarding the potential withdrawal. If closure proceeds, it is expected that this would be no later than March 2027. The company pledged to implement all necessary measures to support all circa 350 employees who may be affected.
NSK is a manufacturer of bearings, linear technology and steering systems. It supplies bearings to automotive manufacturers across the UK, with customers including Nissan's Sunderland plant. The company also has a UK base in Nottinghamshire.