NORTH CANTON, Ohio,
Dec. 1, 2020 /PRNewswire/ -- The
Timken Company (NYSE: TKR), a world leader in engineered bearings
and power transmission products, has acquired the assets of Aurora
Bearing Company (Aurora). Aurora manufactures rod ends and
spherical plain bearings, which serve a diverse range of industrial
sectors, including aerospace and defense, racing, off-highway
equipment and packaging. Its sales are expected to be around
$30 million for the full year
2020.
"Aurora builds on our global leadership position in engineered
bearings by increasing our product breadth, which will help us
serve the bearing space more completely," said Christopher A. Coughlin, Timken executive vice
president and group president. "The Aurora product line and market
mix complements our portfolio very well."
Privately owned and operated since its founding in 1971, Aurora
employs approximately 220 people, with its headquarters,
manufacturing and research and development based in Montgomery, Ill.
This transaction advances Timken's strategy, which is focused on
growing its leadership position in engineered bearings while
diversifying the company's portfolio into adjacent products and
markets.
Other terms of the transaction were not disclosed.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) designs
a growing portfolio of engineered bearings and power transmission
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 $3.8 billion in sales in 2019
and employs more than 17,000 people globally, operating from 42
countries.
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