Timken Signs Deal With Chinese Wind Power Company

Resource from: CBCC Likes:2930

Mar 10,2009

Timken Co. said it has signed a multiyear agreement to supply wind turbine gearbox bearings for a Chinese manufacturer of wind power, marine, construction and industrial gear transmission equipment. Under terms of the agreement with Nanjing High Speed Gear Manufacturing Co., Canton-based Timken will supply tapered and cylindrical roller bearings for use in the Chinese company’s wind power gearboxes. Revenues in the first phase of the agreement are expected to be worth an estimated $30 million (in U.S. dollars) to Timken, with additional growth anticipated after 2010. “This is another great success for Timken in the China wind energy market sector,” said Mike Connors, president of process industries at Timken. He said Timken’s strategy “is to work with leading companies in the industry, companies that compete on product performance, durability and reliability and that demand the highest level of expertise in friction management and power transmission from their suppliers.” Timken, a maker of bearings and steel, also supplies friction-management and power-transmission products and services to the global wind-energy market. Those products and services include high-alloy steels; tapered, cylindrical and spherical roller bearings; seals and lubrication; and technical support.

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