NORTH
CANTON, Ohio, Oct. 2, 2023
/PRNewswire/ -- The Timken Company (NYSE: TKR;
www.timken.com), a global leader in engineered bearings and
industrial motion products, has acquired Rosa Sistemi S.p.A., a
European designer and manufacturer of roller guideways, linear
bearings, customized linear systems and actuators, commercialized
ball guideways and precision ball screws. The company serves
customers across diverse end markets, including automation and
machine tool.
"Rosa Sistemi's roller guides and customized actuators are
highly complementary product lines to our Rollon, Nadella and
Intelligent Machine Solutions (iMS) linear motion product
offerings," said Christopher
Coughlin, Timken executive vice president and president of
Industrial Motion. "This acquisition provides attractive
operational synergies and geographical expansion opportunities to
scale and grow the business leveraging our global footprint."
Timken entered the linear motion space in 2018 with the
acquisition of Rollon, a leader in linear guides, telescopic
rails, and linear actuators and systems used in a wide range
of industrial and commercial applications. To further expand and
strengthen its position in the attractive linear motion space,
Timken acquired iMS in 2021 and, earlier this year, added Nadella's
complementary product portfolio.
Rosa Sistemi is expected to generate around $15 million in revenue in calendar year 2023. The
company employs approximately 65 people and has its headquarters,
R&D and high-precision manufacturing facility in Milan, Italy.
Timken funded the transaction with cash on hand.
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 $4.5
billion in sales in 2022 and employs more than 19,000 people
globally, operating from 46 countries. Timken has been recognized
among America's Most Responsible Companies by Newsweek,
the World's Most Ethical Companies® by
Ethisphere, America's Most Innovative Companies by Fortune and
America's Best Large Employers, Best Employers for New
Graduates and Best Employers for Women by
Forbes.
Safe Harbor
Certain statements in this release (including statements
regarding the company's forecasts, estimates, plans and
expectations) that are not historical in nature are
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995. In particular, the
statements related to expectations regarding the expected future
financial performance of the newly acquired business are
forward-looking. The company cautions that actual results may
differ materially from those projected or implied in
forward-looking statements due to a variety of important factors,
including: the inability to successfully integrate the newly
acquired business into the company's operations or achieve the
expected synergies associated with the acquisition; negative
impacts to the newly acquired business as a result of global
conflicts and hostilities; and adverse changes in the markets
served by the newly acquired business. Additional factors are
discussed in the company's filings with the Securities and Exchange
Commission, including the company's Annual Report on Form 10-K for
the year ended Dec. 31, 2022, quarterly reports on Form 10-Q
and current reports on Form 8-K. Except as required by the federal
securities laws, the company undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
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-expands-linear-motion-offerings-with-rosa-sistemi-acquisition-301943341.html
SOURCE The Timken Company