OSAKA — Tsubakimoto Chain Co., a chain and conveyor manufacturer, said Monday it has allied with U.S. chain firm Rexnord Corp. in the power transmission components business.

Tsubakimoto, whose U.S. unit currently competes with Rexnord for the largest share in the North American steel chain market, said it expects the tieup will help the two companies speed development of new products and technology while reducing costs.

The tieup will allow the two companies to effectively use their resources and share production worldwide, Tsubakimoto said in a news release.

Under the alliance, Tsubakimoto plans to supply steel roller chains to Rexnord, which is based in Milwaukee, Wisconsin. Rexnord has recently closed down a plant for such chains in Indiana, it said.

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