<SUBMISSION>
<ACCESSION-NUMBER>0001005477-01-002826
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20010416
<ITEMS>5
<ITEMS>7
<FILING-DATE>20010420
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>GENERAL BEARING CORP
<CIK>0001026221
<ASSIGNED-SIC>3562
<IRS-NUMBER>132796245
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-22053
<FILM-NUMBER>1607444
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>44 HIGH ST
<CITY>WEST NYWACK
<STATE>NY
<ZIP>10994
<PHONE>9143586000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>C/O GENERAL BEARING CORP
<STREET2>44 HIGH ST
<CITY>WEST NYACK
<STATE>NY
<ZIP>10994
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>0001.txt
<DESCRIPTION>8-K
<TEXT>


                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) OF THE

                         SECURITIES EXCHANGE ACT OF 1934

         Date of report (Date of earliest event reported) April 16, 2001

                           GENERAL BEARING CORPORATION

               (Exact Name of Registrant as Specified in Charter)

          Delaware                      0-22053               13-2796245
(State or Other Jurisdiction         (Commission          (IRS Employer
    of Incorporation)                 File Number)        Identification No.)

                                 44 High Street

                           West Nyack, New York 10994

                    (Address of Principal Executive Offices)

                                 (845) 358-6000

               Registrant's telephone number, including area code

<PAGE>

            This Current Report on Form 8-K is filed by General Bearing
Corporation, a Delaware corporation ("General Bearing"), in connection with the
matters described herein.

Item 5. Other Events.

            On April 16, 2001, General Bearing entered into a Termination
Agreement (the "Termination Agreement"), dated April 16, 2001, with GBC
Acquisition Corp., a Delaware corporation ("AcquisitionCo").

            Pursuant to the Termination Agreement, the Agreement and Plan of
Merger dated January 19, 2001 by and between AcquisitionCo and General Bearing
was terminated and the proposed merger between General Bearing and AcquisitionCo
was abandoned. The parties entered into the Termination Agreement based on the
parties' agreement that it was not reasonably feasible to finance the merger
transaction give current business conditions.

            The information set forth above does not purport to be complete and
is qualified in its entirety by reference to the full text of the Termination
Agreement, a copy of which is attached hereto as Exhibit 2.1, and is
incorporated by reference.

            On April 16, 2001, General Bearing issued a press release announcing
that General Bearing entered into the Termination Agreement. A copy of the press
release is attached hereto as Exhibit 99.1, and is incorporated by reference.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(c) Exhibits.

2.1 Termination Agreement, dated as of April 16, 2001, by and between General
Bearing Corporation and GBC Acquisition Corp.

99.1 Press Release, dated April 16, 2001, issued by General Bearing Corporation.


<PAGE>

                                   SIGNATURES

            Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


Date: April 18, 2001                General Bearing Corporation


                                    By: /s/  David Gussack
                                        -------------------------------
                                             David L. Gussack
                                             President

<PAGE>

                                  EXHIBIT INDEX

Exhibit No.
-----------

2.1 Termination Agreement, dated as of April 16, 2001, by and between General
Bearing Corporation and GBC Acquisition Corp.

99.1 Press Release, dated April 16, 2001, issued by General Bearing Corporation.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2.1
<SEQUENCE>2
<FILENAME>0002.txt
<DESCRIPTION>TERMINATION AGREEMENT
<TEXT>


                                                                  Exhibit 2.1

                              TERMINATION AGREEMENT

            THIS TERMINATION AGREEMENT, dated as of April 16, 2001, is entered
into by and between GBC ACQUISITION CORP., a Delaware corporation
("AcquisitionCo"), and GENERAL BEARING CORPORATION, a Delaware corporation
("Target").

                                   Background

            A. AcquisitionCo and Target are party to that certain Agreement and
Plan of Merger dated January 19, 2001 (the "Merger Agreement"), by and between
AcquisitionCo and Target. Terms not otherwise defined herein shall have the
meaning given to them in the Merger Agreement.

            B. Pursuant to Section 4.5 of the Merger Agreement, AcquisitionCo
represented that it had received a commitment letter (the "Commitment Letter")
committing to provide to AcquisitionCo, upon the terms and subject to the
conditions therein, up to $9,000,000 in financing in connection with the Merger.

            C. By its terms, the Commitment Letter expired on March 31, 2001.
The prospective lender has indicated that in light of current business
conditions, it is not willing to extend the Commitment Letter. Moreover, each of
the parties acknowledges that it is not reasonably feasible for AcquisitionCo to
finance the transaction given current business conditions.

            D. Pursuant to Section 7.1(a) of the Merger Agreement, the Merger
Agreement may be terminated and the Merger abandoned at any time prior to the
Effective Time by the mutual written consent of AcquisitionCo and Target. For
the foregoing reasons, each of the parties desires to terminate the Merger
Agreement and to abandon the Merger.

                                    Terms

            For good and valuable consideration and intending to be legally
bound hereby, the parties hereto agree as follows:

            1. Notwithstanding anything to the contrary contained in the Merger
Agreement, and in accordance with Section 7.1(a) of the Merger Agreement, as of
the date of this Agreement the Merger Agreement is terminated in its entirety,
without any further action on the part of any of the parties thereto, and the
Merger Agreement hereafter shall be of no further force and effect.

            2. In connection with the termination of the Merger Agreement, each
of the parties hereby waives and relinquishes all rights it has under the Merger
Agreement and acknowledges that Merger is hereby abandoned.

<PAGE>

            3. To the extent this Termination Agreement is inconsistent with any
term of the Merger Agreement, the Merger Agreement shall be deemed to be amended
hereby and the terms of this Termination Agreement shall govern.

            4. This Termination Agreement, including the other documents
referred to herein, contains the entire understanding among the parties hereto
with respect to the subject matter contained herein. This Termination Agreement
supersedes all prior agreements and understandings between the parties with
respect to such subject matter, including the Merger Agreement.

            5. This Termination Agreement may be executed in two or more
counterparts, each of which will be deemed an original, but which together shall
constitute one and the same instrument.

            6. This Termination Agreement shall be governed in all respects by
the laws of the State of Delaware without regard to the conflicts of law
principals of any jurisdiction.

            7. The provisions of this Termination Agreement shall inure to the
benefit of, and be binding upon, the successors, assigns, heirs, executors and
administrators of the parties hereto.

                            [SIGNATURE PAGE FOLLOWS]

<PAGE>

      IN WITNESS WHEREOF, this Termination Agreement has been executed as of the
date and year first above written.


                                    GENERAL BEARING CORPORATION

                                    By:    /s/  David Gussack
                                       -----------------------------
                                    Name:  David L. Gussack
                                    Title: President


                                    GBC ACQUISITION CORP.

                                    By:     /s/  Seymour Gussack
                                       -------------------------------
                                    Name:  Seymour I. Gussack
                                    Title: President
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>0003.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>


                                                                  Exhibit 99.1

FOR IMMEDIATE RELEASE

GENERAL BEARING CORPORATION ANNOUNCES TERMINATION OF MERGER AGREEMENT

WEST NYACK, NY - April 16, 2001 - General Bearing Corporation (NASDAQ: GNRL)
today announced that it has terminated the merger agreement that it signed on
January 19, 2001 with GBC Acquisition Corp., a company organized by a group of
current directors and management. This group includes Seymour Gussack, Chairman
of the Board of General Bearing and David Gussack, General Bearing's President
and a director, and other shareholders, who together hold a majority of the
Company's outstanding stock. Pursuant to the termination, the proposed merger
between General Bearing and GBC Acquisition Corp. has been abandoned.

According to the merger agreement, the consummation of the merger was
conditioned upon the completion of debt financing for the transaction. The
financing for the transaction originally had been committed pursuant to a
commitment letter that expired on March 31, 2001. The prospective lender has
indicated that in light of current business conditions, it is not willing to
extend the commitment letter. Each of the parties to the merger agreement has
agreed that it is not reasonably feasible to finance the transaction given
current business conditions. General Bearing agreed to terminate the merger
agreement based upon the unanimous approval of the company's Board of Directors,
including the non-management directors.

General Bearing manufactures ball bearings, tapered roller bearings, spherical
roller bearings and cylindrical roller bearings. Under "The General" and the
"Hyatt" trademarks, the company supplies original equipment manufacturers in the
automobile, truck/trailer, railcar, office equipment, machinery and appliance
industries, as well as the industrial aftermarket.

ARTICLE I "Safe Harbor" statement under the Private Securities Litigation Reform
Act of 1995: This press release contains forward looking statements that are
subject to risks and uncertainties, including, but not limited to, the impact of
competitive products, product demand and market acceptance risks, reliance on
key strategic alliances, fluctuations in operating results and other risks
detailed from time to time in the Company's filings with the Securities and
Exchange Commission. These risks could cause the Company's actual results for
the current fiscal year and beyond to differ materially from those expressed in
any forward looking statements made by, or on behalf of, the Company.

</TEXT>
</DOCUMENT>
</SUBMISSION>
