Timken Acquires Bearing Inspection
February 10, 2005—The Timken Co. announced its acquisition of Bearing Inspection Inc. in an effort to strengthen its position in the aerospace industry.
Terms of the agreement, which Timken expects to be accretive during the first year of ownership, were not disclosed.
J. Ron Menning, vice president of aerospace, consumer and super precision, says, "This acquisition transforms Timken's position in the aerospace services market. The combination of Bearing Inspection's (Bii) recognized leadership in bearing reconditioning with Timken's capabilities as the foremost global manufacturer of aerospace bearings will dramatically enhance the value we can offer worldwide aviation customers and generate synergies for the business."
According to the company's press release, Bii will continue to operate at its current location in Los Alamitos, CA, as part of Timken Aerospace Service. It will become Timken's headquarters for these service, consolidating existing repair operations under the leadership of Drew Becker,who has been appointed general manager of the combined operations.
The new unit will incorporate Bii's existing 80,000 square foot repair station, certificed by the FAA and will support leading air carriers, engine-overhaul facilities, military organizations and engine manufacturers serving the aviation and aero-derivitate markets worldwide.