The Timken Company Acquires Technical Services Group
13 Luglio 2004 - 3:00PM
PR Newswire (US)
The Timken Company Acquires Technical Services Group CANTON, Ohio,
July 13 /PRNewswire-FirstCall/ -- As part of its ongoing strategy
to offer improved value for customers through a broader and
enhanced range of friction management products and services, The
Timken Company announced today that it has acquired the assets of
SES Technical Group, a division of SES, LLC. Terms were not
disclosed. (Logo:
http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO ) The SES
Technical Group, located in Richfield, Ohio, specializes in
vibration analysis, infrared thermography, continuous monitoring
systems, wear particle analysis, and 24-hour emergency service. The
acquisition of the SES Technical Group will add approximately $2.5
million in revenue to Timken Industrial Services. "The associates
of the SES Technical Group bring new capabilities to Timken that
will allow us to build on our heritage of working with customers,"
said Mike Arnold, president - Industrial Group. "The addition of
the SES Technical Group's service offerings expands our ability to
grow beyond bearings and deliver innovative solutions to our
customers." "We are extremely pleased about the strategic fit and
growth prospects of the SES Technical Group now that it has become
part of Timken," said Jim Boughton, CEO, SES, LLC. "For years, SES
has serviced The Timken Company as a customer, and we have always
had a great respect for the capabilities and people of Timken. This
is a very positive move for the associates of the Technical Group."
In conjunction with the acquisition, Timken has announced that Matt
Schleich has been named general manager - Reliability Services.
Matt will have operational and strategic leadership for this
business. Timken Industrial Services works closely with industrial
end users, original equipment manufacturers and distributors
globally to offer services such as bearing repair, bearing
reclamation, component repair, on-site training, mill maintenance,
diagnostic services, and now, predictive maintenance services. The
assets of SES Technical Group were acquired by Timken Industrial
Services, LLC, a subsidiary of The Timken Company, and will become
part of the Timken Industrial Services group. SES, LLC, a supplier
of equipment and services for the metals and related industries,
will continue to separately operate its other two divisions in
Alliance, Ohio. The Timken Company (NYSE:TKR); (
http://www.timken.com/ ) is a leading global manufacturer of highly
engineered bearings and alloy steels and a provider of related
products and services with operations in 26 countries. A Fortune
500 company, Timken recorded 2003 sales of $3.8 billion and
employed approximately 26,000 at year-end. For Additional
Information: Jason Saragian, Public Relations Manager, (330)
471-3514, or visit http://www.timken.com/media , Investor Contact,
Kevin R. Beck, Manager - Investor Relations, (330) 471-7181
http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO
http://photoarchive.ap.org/ DATASOURCE: The Timken Company CONTACT:
Jason Saragian, Public Relations Manager, +1-330-471-3514, or
Investors, Kevin R. Beck, Manager - Investor Relations,
+1-330-471-7181, both of The Timken Company Web site:
http://www.timken.com/ http://www.timken.com/media
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