NORTH CANTON, Ohio,
March 19, 2024 /PRNewswire/ -- The
Timken Company (NYSE: TKR; www.timken.com), a global leader in
engineered bearings and industrial motion products, has been named
one of the World's Most Innovative Companies of 2024 by Fast
Company. Alongside the top 50 companies overall, the
publication recognized 606 organizations across 58 sectors and
regions, with Timken ranking in the manufacturing
category.
"Throughout our company history, we've been creating complex
engineering solutions for applications across industries, from
aviation and rail to space exploration and robotics,"
said Richard G. Kyle, Timken president and chief executive
officer. "Timken has been known for its customer-centric industrial
innovations for 125 years, and our specialized engineering
knowledge is more relevant today than ever. We're proud to be
honored along with these other innovative companies and inspired by
this recognition as we focus on sustainable engineering solutions
for generations to come."
Fast Company editors and writers judged applications
for inclusion on the annual list according to four criteria:
innovation, impact, timeliness and relevance. Timken and other
honorees are featured in Fast Company's March/April print
edition and at www.fastcompany.com.
The publication recognized Timken for its innovations in
renewable energy, the company's largest end-market sector.
Specifically, Timken demonstrated to Fast Company how it
worked with customers to develop an innovative two-bearing solution
for the mainshaft used in the world's largest wind turbines. The
company also created a new steel alloy with 100-percent recycled
material for the bearings and innovated a process for heat-treating
the components using electricity in place of hydrocarbon-burning
furnaces. Ultimately, Timken created a sustainable product using a
sustainable process to benefit a sustainable industry. The first
turbines to employ this comprehensive solution went online in
2023.
Members of Timken's technology, research and development,
application engineering and product management teams all
participated in the development of the innovations that led to this
recognition. The company is a trusted partner and market leader in
application engineering, serving a broad range of industries and
customers worldwide.
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 $4.8 billion in sales in 2023 and employs more
than 19,000 people globally, operating from 45 countries. Timken is
one of the World's Most Innovative Companies, according to Fast
Company, and has been recognized among America's Most
Responsible Companies and America's Greatest Workplaces for
Diversity by Newsweek, the World's Most Ethical
Companies® by Ethisphere and America's Most
Innovative Companies by Fortune.
Media Relations:
Scott
Schroeder
234.262.6420
scott.schroeder@timken.com
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SOURCE The Timken Company