NORTH CANTON, Ohio,
Nov. 1, 2016 /PRNewswire/ -- The
Timken Company (NYSE: TKR; www.timken.com), a world leader in
engineered bearings and mechanical power transmission products,
today announced that it has acquired EDT Corp., a manufacturer of
polymer housed units and stainless steel ball bearings used widely
by the food and beverage industry.
"We market a broad range of bearing housed units and are pleased
to add the EDT line to our portfolio," said Chris Coughlin, group president for The Timken
Company. "We see this acquisition as an excellent strategic fit,
allowing Timken to simultaneously build on the inherent strengths
of the EDT team and leverage our expanded marketplace offering,
thereby increasing our presence in the food and beverage
segment."
EDT Corp. is based in Vancouver,
Wash., and serves a well-established customer base primarily
through North American distributors with whom Timken has
long-standing relationships. EDT® bearings are designed
and manufactured to meet the highest level of food safety and
sanitation requirements. The line includes a range of
non-corrosive, greaseless, wash-down-resistant and extreme
temperature bearings and accessories. In 2015, EDT Corp. revenue was less than
$10 million.
Timken has an industry-leading portfolio of housed unit bearings
consisting of Timken, Fafnir, Revolvo and now EDT-branded products
serving general industrial and other diverse markets such as
metals, mining, lumber and food and beverage. The company offers a
variety of durable, high-performance housed unit bearing styles,
including ball and spherical roller bearing, solid-block tapered
and spherical roller bearing, and split spherical and cylindrical
roller bearing designs, that withstand the harshest operating
conditions.
About The Timken Company
The Timken Company
(NYSE: TKR; www.timken.com) engineers, manufactures and markets
bearings, gear drives, belts, chain, couplings, and related
products, and offers a spectrum of powertrain rebuild and repair
services. The leading authority on tapered roller bearings, Timken
today applies its deep knowledge of metallurgy, tribology and
mechanical power transmission across a variety of bearings and
related systems to improve reliability and efficiency of machinery
and equipment all around the world. The company's growing product
and services portfolio features many strong industrial brands
including Timken®, Fafnir®,
Philadelphia Gear®, Carlisle®, Drives®,
Lovejoy® and Interlube™. Known for its quality products
and collaborative technical sales model, Timken posted $2.9 billion in sales in 2015. With more than
14,000 employees operating from 28 countries, Timken makes the
world more productive and keeps industry in motion.
Media Relations:
234.262.3514
mediarelations@timken.com
Investor Relations:
Jason
Hershiser
234.262.7101
jason.hershiser@timken.com
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SOURCE The Timken Company