Piston Rings Komarov

As of November 1, 2017, Piston rings division has become a new independent company Piston Rings Komarov s.r.o. Our company is based on more than 85 years of tradition in piston rings manufacturing in Komarov, in past known as Buzuluk brand. The aim of Piston Rings Komarov s.r.o. is to improve the level of our products, due to our long-term experience in development and manufacturing piston and sealing rings, and last but not least to satisfy our customers.

In 2017 Hastings Manufacturing Co. and a Piston Rings Komarov s.r.o., both leading global designers and manufacturers of piston rings for the OEM and Aftermarket channels proudly announced their merge.

We are pleased to announce that, today, the Board of Directors of NPR-RIKEN CORPORATION (“Company”) has approved the acquisition (“Acquisition”) of all the capital stock of Hastings Holding Corp. (“HHC”) by Riken Corporation of America (“RCA”), resulting in HHC becoming a wholly-owned subsidiary of RCA. Reasonsfor the Acquisition Under the Company’s Midterm Corporate Strategy (2024-2026), the NPR-RIKEN group (“NPR-RIKEN Group”) is working to transformits business portfolio in a way that leads to more sustainable growth in sales and profit. In addition to expanding its “next core businesses”* into non-ICE fields, the Company is working to achieve stable profitability through market share increases in its core piston ring business, including the replacement ring aftermarket. HHC is theholding companywith its headquarterslocated in Delaware, USAfor twowholly-owned manufacturing entities, Hastings Manufacturing Company (located in Michigan, USA) (“HMC”) and Piston Rings Komarov s.r.o. (located in the Czech Republic) (“PRK”, and together with HMC, the “HHC Group”). Founded in 1915 as a piston ring manufacturer, HMC has cultivated a strong reputation and earned the trust of customers across the United States and the globe. PRK is a company with a long history, beginning as a manufacturer of cast iron products in 1460. PRK began its piston ring manufacturing business in 1932 and has grown into one of the most reputable and trusted producers in the market, particularly in Europe. The HHC Group owns the “Hastings” brand that has a strong, global brand presence and maintains a strong marketshare within the global piston ring aftermarket. Due to its dominating brand power, the HHC Group is the market leader by a wide margin in the North and Central American markets. Through its ownership of the RIKEN brand and the NPR brand, the NPR-RIKEN Group is already a leading player in the global piston ring market. By adding the Hastings brand to the NPR-RIKEN Group’s portfolio, it will secure its position as the top global player.