The Timken Company has acquired Lagersmit, a Netherlands-based manufacturer of highly engineered sealing solutions for demanding marine, dredging, water, tidal energy and other industrial applications.
The Timken Company has reached an agreement to acquire Engineered Solutions Group (a.k.a. Innovative Mechanical Solutions or iMECH), based in Houston, Texas. iMECH manufactures thrust bearings, radial bearings, specialty coatings and other components primarily used in the energy industry. The business employs approximately 70 people and projects revenue of approximately $30 million for calendar year 2023.
The Timken Company has acquired Des-Case Corp., a Nashville, Tenn.-based manufacturer of specialty filtration products for industrial lubricants. Founded in 1983, the company serves customers across a variety of industrial end markets. Des-Case's revenue for the calendar year 2023 is expected to be around $40 million.
The Timken Company is providing slewing drives for the second-largest photovoltaic (PV) solar tracking system project in Australia. Solar tracker manufacturer ATEC chose Timken's Cone Drive solution to help it overcome challenging wind conditions in the mountainous region of New South Wales, where the 280 MW Wollar Solar Farm is being constructed.
The Timken Company is experiencing strong demand for the broad range of application-proven products and services it offers the food and beverage industry. Timken has built a comprehensive food and beverage portfolio through both organic and inorganic growth, including its 2022 addition of GGB Bearings, and achieved a total sales compound annual growth rate of more than 30 percent in the market-sector over the last five years. The company expects an expanding global footprint, new product line launches and growing demand for food worldwide to drive additional growth in the coming years.
Timken is helping fund the futures of 20 students in pursuit of careers ranging from economics and agriculture to medicine and education. In an awards ceremony last week, the company presented college scholarships to the children of Timken associates in the United States, China, India, Poland and Romania. Since the Timken Global Scholars Program's inception in 1958, The Timken Company Charitable and Educational Fund has awarded more than $26 million in scholarships to 815 students.
The Timken Company continues to be a key contributor to the latest generation of United States Navy ships. General Dynamics Bath Iron Works (BIW) recently awarded Timken a long-term contract to deliver Philadelphia Gear main reduction gears (MRGs) for all future Flight III ships of the Arleigh Burke (DDG-51) class. The contract, if executed fully, will result in revenue of more than $500 million for Timken over approximately five to eight years. Production is expected to begin in 2024.
The Timken Company has acquired the assets of American Roller Bearing Company (ARB), a North Carolina-based manufacturer of industrial bearings. ARB's offerings join Timken's industry-leading portfolio of engineered bearing solutions. ARB, which boasts a large U.S. installed base and strong aftermarket business, generated sales of more than $30 million in 2022.
The Timken Company has reached an agreement to acquire Nadella Group, a leading European manufacturer of linear guides, telescopic rails, actuators and systems and other specialized industrial motion solutions, from ICG plc.
Timken Utilizes LK Metrology for Bearing Inspection and Analysis
January 9, 2023
The Dudley, UK factory of The Timken Company supplies the engineered bearings it manufactures into a multitude of industries including mining, food and beverage, pulp and paper, cement, marine, and wastewater. Recently there has been a significant increase in demand for larger bearings up to 1,200 mm in diameter for use in the construction of wind turbines, which promises exponential growth in the coming years as countries across the globe work towards meeting their green energy targets.