Timken Details Vision to Build a More Efficient, Resilient World in 2019 CSR Report
The Timken Company (NYSE: TKR) released its 2019 Corporate Social Responsibility (CSR) report, emphasizing its focus on engineering and systems thinking to adapt to a changing world. The report outlines three main areas for advancing CSR: growing knowledge through associate training and diversity, advancing sustainability with energy-efficient products and safety, and promoting leadership through ethical governance and community investment. Timken reported $3.8 billion in sales in 2019, employing over 17,000 people across 42 countries.
- Focus on associate training and diversity initiatives to enhance company culture.
- Commitment to sustainability through energy-efficient products and improved safety programs.
- Strong corporate governance aimed at benefiting stakeholders and communities.
- None.
NORTH CANTON, Ohio, Nov. 2, 2020 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and power transmission products, today issued its 2019 corporate social responsibility (CSR) report and vision, inspired by engineering and systems thinking.
"Our ability to adapt to a changing world is more critical than ever, and as an engineering-focused organization, we are well equipped to do so," says Rich Kyle, president and CEO. "Engineering, as a discipline, provides us with the tools and thinking we need to help build a world that is both more efficient and more resilient. In 2019, we furthered our commitment to being transparent and accountable, measuring the progress we have made for the planet and people, and determining where we need to focus our efforts."
The 2019 Timken CSR Report introduces three focus areas the company has identified to measure and advance its CSR initiatives – growing knowledge, advancing sustainability and promoting leadership. Each focus area is aligned with the company's core competency as a global industrial leader to ensure it can make the most positive impact for all stakeholders:
- Growing knowledge: focusing on the power of learning and diverse perspectives by investing in associate training and development programs that support a culture of learning; enhancing diversity and inclusion initiatives to encourage global, diverse viewpoints; and rewarding associates with strong wages and competitive benefits.
- Advancing sustainability: leveraging the promise of a better tomorrow as the inspiration for today's innovations by engineering products that increase the energy efficiency of machinery and equipment; propelling the renewable energy sector; continuously improving industry-leading safety programs to protect associate health and safety; and embracing energy efficiency, pollution prevention, waste management and recycling programs at Timken facilities globally.
- Promoting leadership: Upholding strong corporate governance principles and practices to promote the interests of the company and its stakeholders; operating ethically and responsibly; and building and investing in communities through associate and corporate-led giving, partnership and volunteerism.
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
Media Relations:
Scott Schroeder
234.262.6420
scott.schroeder@timken.com
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SOURCE The Timken Company
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