NORTH
CANTON, Ohio, Nov. 1, 2022
/PRNewswire/ -- The Timken Company (NYSE: TKR;
www.timken.com), a global leader in engineered bearings and
industrial motion products, today announced it has closed the sale
of its Aerospace Drive Systems (ADS) business to PCX
Aerostructures, LLC. Terms were not disclosed.
ADS is a supplier of drive system components and sub-assemblies
for military and civil rotorcraft applications. ADS revenue is
expected to be around $50 million in
2022.
About The Timken Company
The Timken Company (NYSE:
TKR; www.timken.com) designs a growing portfolio of
engineered bearings and industrial motion 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 $4.1
billion in sales in 2021 and employs more than 18,000 people
globally, operating from 43 countries. Timken has been 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
Investor Relations:
Neil
Frohnapple
234.262.2310
neil.frohnapple@timken.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/timken-completes-sale-of-aerospace-drive-systems-business-301665070.html
SOURCE The Timken Company