(Oxford, CT – January 4, 2005) RBC Bearings Incorporated completed an agreement with Networks Electronic Corporation to purchase its U.S. Bearing business located in Chatsworth, California. RBC Bearings is a global manufacturer of highly engineered, precision bearing products for the industrial, aerospace, and defense markets. This acquisition further solidifies RBC’s position as the broadest line supplier of standard and specialty bearings for commercial and military airframe manufacturers and flight control applications. U.S. Bearing is a manufacturer of commercial and military aerospace, premium-quality self-aligning rod ends, spherical bearings, journals, and link assemblies. Since 1954, U.S. Bearing has played a major role in the design and support of plain bearings for airplanes, ground vehicles, helicopters, missiles, and satellites. "This acquisition comes at a very exciting time in our company’s history and continues to complement our broad range of aircraft bearing products, further enhancing our ability to more completely serve the global aircraft industry. These products are very similar to those produced by our Heim Bearings Division in Fairfield, Connecticut," said Michael J. Hartnett, President and CEO of RBC Bearings. Planning is now underway for a new production facility to accommodate the lines, according to Dr. Hartnett. RBC Bearings is a privately-owned company with 17 facilities located throughout North America and Europe, and employs approximately 1,400 worldwide. Founded in 1919, the company is supported by a global network of sales engineers, distributors, and authorized agents.