NORTH CANTON, Ohio,
Oct. 20, 2021 /PRNewswire/ -- The
Timken Company (NYSE: TKR; www.timken.com), a global industrial
leader in engineered bearings and power transmission products,
today released its 2020 corporate social responsibility (CSR)
report, detailing efforts to create a more efficient and resilient
world.
"Sustainability has been core to our products for more than 120
years, and we're extending that same leadership to the way we view
our responsibility as a global corporate citizen. CSR is a priority
for all of us at Timken," said Rich
Kyle, Timken president and CEO. "In 2020, we continued to
make strides towards achieving greater efficiency for a world in
motion while creating value for all our stakeholders. This report
documents how we are delivering real-world impact."
Key focus areas include the company's dedication to the growth
of its global team of engineers and problem solvers, its emphasis
on renewable energy and other sustainable practices, as well as its
commitment to ethics, governance, communities and STEM education
worldwide. Timken is:
- Delivering innovative solutions through a culture that
encourages knowledge sharing and rewards new ideas. From its
engineering co-op program to its associate resource groups, Timken
engages with employees from diverse backgrounds and offers many
opportunities to develop new skills. The company is committed to
ensuring all employees are included, are compensated well and have
ample possibilities for career growth.
- Making a more efficient world through products that advance
sustainability across geographies and industries. For instance,
renewable energy now stands as the company's single-largest
end-market sector, thanks to its innovative solar tracker and wind
turbine solutions. The company has committed over $75 million in capital investments through 2022
to expand its capabilities in renewables across its global
footprint. In its own operations, Timken is reducing plastic
packaging, energy consumption, emissions and water usage.
- Remaining grounded in its commitment to ethics and integrity.
The company leads by contributing to the communities where it
operates, including its ongoing response to the COVID-19 pandemic,
and championing the next generation of problem solvers. Timken's
philanthropic focus globally is science, technology, engineering
and math (STEM) education and investing in future leaders and
innovators.
Timken continues to address tangible problems with innovative
solutions that create shared value for all stakeholders. In 2020,
Newsweek named Timken one of "America's Most Responsible
Companies."
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.
Media Relations:
Scott
Schroeder
234.262.6420
scott.schroeder@timken.com
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SOURCE The Timken Company