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Timken Co. (TKR)

  • Nov. 18, 2014, 8:23 AM
    • Timken (NYSE:TKR) has reached an agreement with ERIKS to acquire Revolvo, a maker of ball and roller bearings for industrial applications in process and heavy industries.
    • Revolvo posted sales of approximately $8.3M in 2013.
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  • Oct. 16, 2014, 3:17 PM
    • Timken (TKR -0.2%), Regal Beloit (RBC +0.9%) and Altra Industrial Motion (AIMC +0.6%) have made it to the second round of bidding in the auction for Emerson Electric's (EMR +2%) power transmission solutions business, Reuters reports.
    • P-E firms Warburg Pincus and Onex also are said to be in the running for the unit, which is expected to fetch $1.2B-$1.6B in a sale.
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  • Sep. 5, 2013, 4:19 PM
    • Timken (TKR) announces plans to separate its steel business from its bearings and power transmission business through a spinoff, creating two publicly traded companies
    • The spinoff is expected to be completed within 12 months.
    • Ward J. Timken, Jr. will serve as chairman and CEO of the new steel company with estimated annual revenue of approximately $1.7B.
    • Richard G. Kyle will become president and CEO of the global bearings and power transmission business, with estimated annual revenue of approximately $3.4B.
    • Shares +6.3% AH.
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  • Apr. 12, 2013, 9:44 AM
    Timken (TKR -0.7%) acquires electric motor repair outfit Smith Services for an undisclosed sum. Smith had sales of $17M last year. TKR says the purchase adds "additional industrial service capabilities." Meanwhile, Relational Investors and CalSTRS say a proposal to spinoff TKR's steel business poses no downside risks and is in fact not binding which is why, they say, shareholders should vote 'yes.' 
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  • Oct. 3, 2011, 6:40 PM
    Timken (TKR) completes its $92M acquisition of Drives LLC, a manufacturer of highly engineered drive-chains, roller-chains and conveyor augers for mobile and industrial machinery. Shares +5% AH.
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  • Aug. 31, 2011, 10:54 AM
    Timken (TKR +7.4%) acquires Drives LLC, a maker of highly engineered drive chains and augers, for $92m in cash, furthering its efforts to build up its power-transmission line of business.
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  • May. 27, 2011, 12:39 PM
    Timken (TKR +3.1%) gaining after announcing that it will acquire the assets of Philadelphia Gear for $200M. It's part of an effort by Timken to target greater penetration into the growing energy and infrastructure sectors. (PR)
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Company Description
The Timken Co manufactures mechanical components. The Company along with its subsidiaries engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers power system rebuild and repair services.