NORTH CANTON, Ohio,
March 30, 2015 /PRNewswire-FirstCall/
-- The Timken Company (NYSE: TKR; www.timken.com) released its
2014 Annual Report to shareholders and announced its Annual Meeting
will be held on May 7. The Annual
Report – The World in Focus – highlights how the company,
following a period of strategic realignment and reshaping of its
product portfolio, is becoming stronger and even more focused on
its customers and shareholders.
"We are focused on the fundamentals," wrote Richard G. Kyle, president and CEO, in his
letter to shareholders. "That means a decisive management team,
operational excellence, global growth and solid margins. We are
committed to our customers and to identifying and solving their
most complex friction management and power transmission needs.
"During the year, we transitioned leadership and quickly
developed a cohesive, action-oriented and aligned management team
who shares a clear vision of our priorities: excellence, growth and
knowledge-based product leadership," Kyle added. "The team launched
several new growth initiatives, improved operating margins and
delivered solid returns to shareholders."
Kyle noted that the company also introduced DeltaX, a multi-year
initiative to accelerate growth. The effort includes redesigning
product management, engineering and business resources to drive
product development to commercialization more efficiently, allowing
Timken to better meet customer needs.
To view the Timken 2014 Annual Report and 2015 Proxy Statement,
which contains more information about the company's Annual Meeting,
visit www.timken.com/investors.
About The Timken Company
The Timken Company
(NYSE: TKR; www.timken.com) engineers, manufactures and markets
bearings, transmissions, motors, gearboxes, chain 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
mechanical power transmission across a variety of bearings and
related systems to improve 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®, Interlube® and
Drives®. Known for its quality products and
collaborative technical sales model, Timken posted $3.1 billion in sales in 2014. With approximately
16,000 people operating from 28 countries, Timken makes the world
more productive and keeps industry in motion.
Media Contact:
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Investor Relations:
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Gloria Irwin
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Steve Tschiegg
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Communications Manager
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Director - Capital Markets and Investor
Relations
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4500 Mount Pleasant St. N.W.
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4500 Mount Pleasant St. N.W.
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North Canton, OH 44720 U.S.A.
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North Canton, OH 44720 U.S.A.
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Telephone: 234.262.3514
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Telephone: 234.262.7446
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Mediarelations@timken.com
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Steve.tschiegg@timken.com
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SOURCE The Timken Company