NORTH CANTON, Ohio,
Aug. 20, 2021 /PRNewswire/ -- The
Timken Company (NYSE: TKR), a global industrial leader in
engineered bearings and power transmission products, has acquired
Intelligent Machine Solutions (iMS), a manufacturer of industrial
robotics and automation solutions. The addition of iMS expands and
complements Timken's Rollon® linear motion product range with
larger and heavy-duty applications, such as seventh-axis robotic
transfer units (RTUs) and gantry systems.
![The Timken Company Logo. (PRNewsfoto/The Timken Company) The Timken Company Logo. (PRNewsfoto/The Timken Company)](https://mma.prnewswire.com/media/647794/TIMKEN_COMPANY_Logo.jpg)
iMS, which was founded in 2008, is based in Norton Shores, Michigan, in the United States. The company, which has
approximately 20 employees, designs and manufactures floor-mounted,
overhead, rotary and extreme seventh-axis RTUs and gantry systems
used by manufacturers across industries to automate certain
production processes. iMS will increase Rollon's leadership in
robotics and automation and in new and growing end-market sectors,
such as packaging and marine, as well as aerospace and automotive
production plants. Furthermore, the addition of iMS enhances
Rollon's operational footprint in the
United States, a key strategic objective for the
business.
"The acquisition of iMS builds upon our established engineering
expertise in power transmission and will enable us to compete more
effectively and win new business in the heavy-duty linear motion
space," said Rüdiger Knevels, chief executive officer of Rollon.
"This deal expands our product line and creates new opportunities
for us in the growing and global $700
million robotic transfer unit industry."
Timken entered the linear motion product space in 2018 with the
acquisition of Europe-based
Rollon, a leader in engineered and specialized linear motion
products, including linear guides, telescopic rails, and linear
actuators and systems used in a wide range of industrial and
commercial applications.
iMS revenues for the 12 months ended June
30, 2021 were approximately $6
million. Other terms of the transaction were not
disclosed.
About The Timken Company
The Timken Company (NYSE:
TKR; www.timken.com) designs a growing portfolio of
engineered bearings and power transmission products. With more than
a century of knowledge and innovation, we continuously improve the
reliability and efficiency of global machinery and equipment to
move the world forward. Timken posted $3.5 billion in sales in 2020 and employs more
than 17,000 people globally, operating from 42 countries. Timken is
recognized among America's Most Responsible Companies by
Newsweek, the World's Most Ethical Companies® by Ethisphere,
and America's Best Employers, Best Employers for New
Graduates and Best Employers for Women by Forbes.
Certain statements in this release (including statements
regarding the company's plans, estimates and expectations) that are
not historical in nature are "forward-looking" statements within
the meaning of the Private Securities Litigation Reform Act of
1995. In particular, the statements regarding the company's
expectations regarding realization of synergies, end-market sector
and industry growth, and business plans are forward-looking. The
company cautions that actual results may differ materially from
those projected or implied in forward-looking statements due to a
variety of important factors, including: the inability to
successfully acquire and integrate the newly acquired business into
the company's operations or achieve the expected synergies
associated with the acquisition; and adverse changes in the markets
served by the newly acquired business. Additional factors are
discussed in the company's filings with the Securities and Exchange
Commission, including the company's Annual Report on Form 10-K for
the year ended Dec. 31, 2020,
quarterly reports on Form 10-Q and current reports on Form 8-K.
Except as required by the federal securities laws, the company
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Media Relations:
Scott Schroeder
234.262.6420
mediarelations@timken.com
Investor Relations:
Neil Frohnapple
234.262.2310
neil.frohnapple@timken.com
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SOURCE The Timken Company