Timken Completes Acquisition of Cone Drive
NORTH CANTON, Ohio, Sept. 4, 2018 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in engineered bearings and power transmission products, today announced that on Sept. 1, 2018 it completed the previously announced acquisition of Cone Drive, a leader in precision drives used in diverse markets including solar, automation, aerial platforms, and food and beverage.
Cone Drive is headquartered in Traverse City, Mich., and has manufacturing operations in the United States and China. The company has a global customer base and employs approximately 500 people. The business produces a broad range of highly customizable precision drive products that include Cone Drive® and H-Fang® branded high-torque worm gears, harmonic solutions and precision slew drives.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) engineers, manufactures and markets bearings, gear drives, automated lubrication systems, belts, chain, couplings and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and power transmission across a variety of bearings and related systems to improve the reliability and efficiency of machinery and equipment all around the world. The company's growing product and services portfolio features many strong industrial brands including Timken®, Fafnir®, Philadelphia Gear®, Groeneveld®, Drives® and Lovejoy®. Known for its quality products and collaborative technical sales model, Timken posted $3 billion in sales in 2017. With more than 16,000 employees operating from 33 countries, Timken makes the world more productive and keeps industry in motion.
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