NORTH
CANTON, Ohio, Oct. 26,
2023 /PRNewswire/ -- The Timken Company (NYSE:
TKR; www.timken.com), a global leader in engineered bearings and
industrial motion products, today completed the sale of Jiangsu TWB
Bearings Co., Ltd. (TWB) to Zhejiang Tianma Bearing Group Co., Ltd.
In 2022, TWB posted revenue of approximately $40 million. Other terms of the deal were not
disclosed.
Based in Jiangsu Province, China, TWB manufactures roller bearings for
elevators, construction equipment and other general industry
applications that are sold under the TWB brand. The business, which
was established in 1996 and joined Timken as part of the Torrington
acquisition in 2003, primarily serves domestic customers in
China.
This transaction reflects Timken's ongoing efforts to actively
manage its global portfolio to target and serve premium customers
with highly engineered products and related services across a wide
range of industrial markets.
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.
Media Relations:
Scott
Schroeder
234.262.6420
scott.schroeder@timken.com
Investor Relations:
Neil Frohnapple
234.262.2310
neil.frohnapple@timken.com
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SOURCE The Timken Company