CANTON, Ohio, May 13, 2013 /CNW/ - The Timken Company (NYSE:
TKR; www.timken.com) today announced the continued expansion of its
industrial services capabilities with the acquisition of the
Standard Machine business based in Saskatoon, Saskatchewan, Canada.
(Logo: http://photos.prnewswire.com/prnh/20100210/TIMKENLOGO
)
Standard Machine provides new gearboxes, gearbox service and
repair, open gearing, large fabrication, machining and field
technical services to end?users in Canada and the western United States. The company, which employs 125
people, serves a wide variety of industrial sectors including
mining, oil and gas, pulp and paper. In 2012, Standard Machine
reported sales of approximately $31
million.
"The acquisition of Standard Machine further advances our
strategy to expand our industrial services capabilities," said
Carl D. Rapp, vice president of
industrial services for Timken. "As a respected power transmission
company in Canada, Standard
Machine provides Timken with a great location and robust
gear-making and machining skills, which differentiates them in key
target market sectors."
Rapp added, "Standard Machine's location near energy and mineral
resources, coupled with their strong technical team and service
culture, provide an excellent platform to drive long-term growth in
our business."
The addition of Standard Machine expands the company's gearbox
and bearing repair services into Canada. Greg
Porter, president and CEO of Standard Machine, will lead the
business in Canada on behalf of
the industrial services group within The Timken Company's Process
Industries segment.
Earlier this year, Timken acquired the assets of Wazee
Companies, LLC, headquartered in Denver,
Colo., and Smith Services, Inc., based in Princeton, W.Va., as part of the company's
plan to expand its industrial services capabilities.
About Standard Machine
Hamilton Gear Ltd. (dba Standard Machine)
(www.standardmachine.ca), based in Saskatoon, Saskatchewan, Canada, serves end
users in Canada and the western
United States, offering gearbox
service and repair, open gearing, large fabrication, machining and
field technical services. Originally founded in 1967, the business
now operates from a 110,000 square foot facility in Saskatoon and employs 125 people.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com), a global
industrial technology leader, applies its deep knowledge of
materials, friction management and power transmission to improve
the reliability and efficiency of industrial machinery and
equipment all around the world. The company engineers, manufactures
and markets mechanical components and high-performance steel.
Timken® bearings, engineered steel bars and tubes—as
well as transmissions, gearboxes, chain, related products and
services—support diversified markets worldwide. With sales of
$5.0 billion in 2012 and
approximately 20,000 people operating from 30 countries, Timken
makes the world more productive and keeps industry in motion.
Media Contact: Dan
Minnich
|
Investor Contact: Steve
Tschiegg
|
Communications Manager
|
Director – Capital Markets
& Investor Relations
|
1835 Dueber Avenue,
S.W.
|
1835 Dueber Avenue,
S.W.
|
Canton, OH 44706-0927
U.S.A.
|
Canton, OH 44706-0927
U.S.A.
|
Telephone:
(330)471-7760
|
Telephone:
(330)471-7446
|
dan.minnich@timken.com
|
steve.tschiegg@timken.com
|
SOURCE The Timken Company