Timken Acquires Torsion Control Products Broadening Its Couplings Product Line

Resource from: TIMKEN Likes:196

Apr 25,2017

NORTH CANTON, Ohio, April 7, 2017 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in bearings and mechanical power transmission products, today announced that it has acquired Torsion Control Products, Inc., a manufacturer of engineered torsional couplings used in the construction, agriculture and mining industries. "The acquisition of Torsion Control Products further expands our existing couplings business with technically differentiated products," said Richard G. Kyle, Timken president and chief executive officer. "We are excited to expand our product offering, combining Torsion Control Products' torsional couplings with our line of Lovejoy® couplings to bring greater solutions to bearing and mechanical power transmission customers." Based in Rochester Hills, Mich., Torsion Control Products serves an established original equipment customer base primarily in North America. In 2016, sales were approximately $20 million. This acquisition is part of the company's strategy to grow its portfolio of bearings and mechanical power transmission products. In recent years, acquired mechanical offerings have included gears and gear drives, chain, belts, couplings and lubrication delivery systems, as well as a variety of related services. These product lines are marketed under strong industrial brands including Timken®, Philadelphia Gear®, Drives®, Lovejoy® and Interlube™. Terms of the transaction were not disclosed.

(TIMKEN)

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