NORTH CANTON, Ohio,
April 7, 2017 /PRNewswire/
-- The Timken Company (NYSE: TKR; www.timken.com), a global
leader in bearings and mechanical power transmission products,
today announced that it has acquired Torsion Control Products,
Inc., a manufacturer of engineered torsional couplings used in the
construction, agriculture and mining industries.
"The acquisition of Torsion Control Products further expands our
existing couplings business with technically differentiated
products," said Richard G. Kyle,
Timken president and chief executive officer. "We are excited to
expand our product offering, combining Torsion Control Products'
torsional couplings with our line of Lovejoy® couplings
to bring greater solutions to bearing and mechanical power
transmission customers."
Based in Rochester Hills,
Mich., Torsion Control Products serves an established
original equipment customer base primarily in North America. In 2016, sales were
approximately $20 million.
This acquisition is part of the company's strategy to grow its
portfolio of bearings and mechanical power transmission products.
In recent years, acquired mechanical offerings have included gears
and gear drives, chain, belts, couplings and lubrication delivery
systems, as well as a variety of related services. These product
lines are marketed under strong industrial brands including
Timken®, Philadelphia Gear®,
Drives®, Lovejoy® and Interlube™.
Terms of the transaction were not disclosed.
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®,
Drives®, Lovejoy® and Interlube™. Known for
its quality products and collaborative technical sales model,
Timken posted $2.7 billion in sales
in 2016. 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
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/timken-acquires-torsion-control-products-broadening-its-couplings-product-line-300436075.html
SOURCE The Timken Company