Timken Named Among 100 Most Trustworthy Companies by Forbes
08 Aprile 2009 - 7:48PM
Business Wire
The 110-year-old Timken Company (NYSE: TKR) has long been known
for conservative management and foundational values that stress
ethics and integrity above all. Adherence to these principles has
earned Timken a place on the list of �The 100 Most Trustworthy
Companies,� an annual study published by Forbes magazine based on a
ranking of corporate accounting, governance and management
practices by Audit Integrity, an independent financial and
governance review organization.
To compile its ranking each year, the firm analyzes 12,000
companies listed on American stock exchanges and assigns each an
accounting and governance risk (AGR) score using a proprietary
process to evaluate financial reporting, transparency, fiscal
policies, compensation, management behaviors, liabilities and risk
indicators. In an article on the results of the Audit Integrity
study released April 6, 2009, Forbes noted, �These companies do not
play games with revenue and expense recognition, or with asset
valuation.�
Timken received high marks for its practices, placing in the
95th percentile of the 100 Most Trustworthy Companies with an
average AGR score of 81 for the year, and 85 in the fourth quarter
of 2008. The highest AGR score achieved was 88.
�We are honored that Forbes and Audit Integrity have
acknowledged Timken as a company that is truly worthy of public
trust,� said Timken President and CEO James Griffith. �This is a
great credit to our company�s associates, especially at a time like
this, when we are doing what we must for a difficult environment �
managing within our means, making sacrifices, preserving a strong
balance sheet and liquidity, and executing for the long term.�
Learn more about Timken via this link to an online media kit,
where you can access the company�s new annual report, investor
presentation and information on its citizenship efforts:
http://www.timken.com/en-us/about/NewsRoom/MediaKits/Pages/MediaKits.aspx
About The Timken
Company
The Timken Company (NYSE: TKR) (http://www.timken.com) keeps the
world turning, with innovative friction management and power
transmission products and services, enabling our customers�
machinery to perform more efficiently and reliably. With sales of
$5.7 billion in 2008, operations in 26 countries and approximately
25,000 employees, Timken is Where You Turn� for better
performance.
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