NORTH
CANTON, Ohio, Nov. 7, 2022
/PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a
global leader in engineered bearings and industrial motion
products, has completed its previously announced acquisition of GGB
Bearings.
Founded in 1899, GGB Bearings serves a variety of diverse
customers, markets, geographies and applications with a product
portfolio that complements existing Timken industry-leading
engineered bearing solutions. GGB Bearings' revenue is expected to
be around $200 million in fiscal year 2022. With
manufacturing facilities across the United
States, Europe and China, GGB Bearings employs
approximately 900 people and has a global engineering, distribution
and sales footprint.
GGB Bearings is a global technology and market leader of premium
engineered metal-polymer plain bearings with expertise in material
science, surface engineering and tribology. Its tribology
solutions in plain bearing coatings complement Timken's leading
positions in roller and ball bearings. GGB Bearings' products are
used mainly in industrial applications, including pumps and
compressors, HVAC, off-highway, energy, material handling and
aerospace.
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.shroeder@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-acquisition-of-ggb-bearings-301669659.html
SOURCE The Timken Company