NORTH CANTON, Ohio,
Sept. 4, 2018 /PRNewswire/
-- The Timken Company (NYSE: TKR; www.timken.com), a global
leader in engineered bearings and power transmission products,
today announced that on Sept. 1, 2018
it completed the previously announced acquisition of Cone Drive, a
leader in precision drives used in diverse markets including solar,
automation, aerial platforms, and food and beverage.
Cone Drive is headquartered in Traverse City, Mich., and has manufacturing
operations in the United States
and China. The company has a
global customer base and employs approximately 500 people. The
business produces a broad range of highly customizable precision
drive products that include Cone Drive® and
H-Fang® branded high-torque worm gears, harmonic
solutions and precision slew drives.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) engineers,
manufactures and markets bearings, gear drives, automated
lubrication systems, 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 power
transmission across a variety of bearings and related systems to
improve the 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®, Groeneveld®, Drives® and
Lovejoy®. Known for its quality products and
collaborative technical sales model, Timken posted $3 billion in sales in 2017. With more than
16,000 employees operating from 33 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