NORTH CANTON, Ohio,
July 8, 2016 /PRNewswire/ -- The
Timken Company (NYSE: TKR; www.timken.com), a world leader in
bearings and mechanical power transmission, today announced that
Mathew W. Happach has been named
president of Lovejoy, Inc. At the same time, Lovejoy's CEO Woodrow
"Woody" Haddix assumes the role of advisor to the president,
supporting Happach through the transition period. Timken announced
that it has acquired Lovejoy, adding the premium manufacturer of
industrial couplings and universal joints to the Timken line-up of
mechanical power transmission products.
"Mat brings great experience in the power transmission space as
well as broad leadership skills to his new role," said Hans Landin, vice president of mechanical power
transmission products for Timken, in announcing the appointment.
"He and Woody share the same goal: to build the Lovejoy business
and brand while ensuring that customers continue to experience the
high levels of service and support that have long been a Lovejoy
hallmark."
Lovejoy, Inc., is based in Downers
Grove, IL, with additional locations in the U.S.,
Canada and Germany. Widely recognized for its flexible
coupling design and as the creator of the jaw-style coupling,
Lovejoy also manufactures a line of universal joints, hydraulics
and vibration dampening products. The company's
Lovejoy®, Curtis® and RunRight®
products have long been mainstays to diverse industries
including energy, fluid power, food and beverage, aggregate, paper
and steel.
A Timken associate since 1987, Happach has extensive
experience in OE and distribution sales, marketing and planning
functions. He has served as director of aerospace bearings,
managing director for Europe,
managing director for Korea and Japan, and also was vice president of the
global rail businesses. Previously Happach also held leadership
positions in global marketing and business planning and was the
director of sales and marketing for the Timken business in
India.
Happach received a bachelor's degree in mechanical engineering
from Bradley University and holds a
master's degree in business administration from The University of Texas at Arlington. Happach and his
wife will relocate to the Chicago area in the near future.
Haddix most recently was chief executive officer of Lovejoy,
Inc., and has extensive industry experience. Prior to
Lovejoy, he held positions in Premier Industrial, Hawk Powder Metal
Group and International Harvester. He earned both a
bachelor's degree and a master's of business administration degree
from DePaul University.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) manufactures and
markets engineered bearings and mechanical power transmission
products including gear drives, belts, chain, couplings and related
products. The company also offers a spectrum of industrial
services, including powertrain rebuild and bearing repair. The
leading authority on tapered roller bearings, Timken applies its
deep knowledge of metallurgy, tribology and mechanical systems to
improve reliability and efficiency of machinery and equipment all
around the world. The company's growing portfolio features many
strong industrial brands including Timken®,
Fafnir®, Philadelphia Gear®, Carlisle®, Lovejoy®,
Drives® and InterlubeTM. Known for its
quality products and collaborative technical sales model, Timken
posted $2.9 billion in sales in
2015. With more than 15,000 employees operating from 28 countries,
Timken makes the world more productive and keeps industry in
motion.
Media Relations:
234.262.3514
mediarelations@timken.com
Investor Relations:
Shelly
Chadwick, Vice President – Treasury & Investor
Relations
234.262.3223
shelly.chadwick@timken.com
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SOURCE The Timken Company