Timken's Extensive Mounted Bearing Offering Addresses the World's Toughest Jobs

Rhea-AI Summary

The Timken Company (NYSE: TKR) has reported robust growth in its mounted bearings segment, which has outpaced the U.S. industrial production index over the last five years. Key sectors driving sales include agriculture, mining, and food and beverage. Timken's innovative product designs, such as split cylindrical bearings, enhance installation and maintenance, particularly in challenging environments. The company is focused on expanding its manufacturing capabilities and customer service to support anticipated future growth.

Positive

• Mounted bearing sales have grown at more than double the U.S. industrial production index over the past five years.
• Key sectors contributing to growth include agriculture, mining, and HVAC.
• Innovative product designs enhance reliability and performance in harsh conditions.
• Timken is investing in manufacturing technology and customer service to support growth.

Negative

• None.

Robust portfolio growing at double the rate of the U.S. industrial production index over last five years

NORTH CANTON, Ohio, Oct. 31, 2022 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in engineered bearings and industrial motion products, is experiencing strong demand for its industrial mounted bearings, a growing portfolio of products innovatively engineered to improve and differentiate performance. Over the last five years, Timken® mounted bearing sales have grown at more than double the U.S. industrial production index during the same period.ⁱ 

Market sectors such as agriculture, mining, metals, aggregate, cement, HVAC, water treatment and food and beverage are leading contributors to increased sales of Timken mounted bearings, which provide enhanced protection from moisture, contamination and other harsh conditions. Companies installing and maintaining industrial equipment for these challenging applications are selecting Timken's highly engineered units for trusted performance and reliability from one of the broadest product lines in the industry.ⁱ

"At Timken, we're focused on product vitality, which is our ability to develop and grow a portfolio of products that we engineer into our customers' next-generation equipment," said Andreas Roellgen, Timken executive vice president, president Engineered Bearings. "When we innovate and implement solutions for our customers' toughest applications, we demonstrate the unique value of partnering with Timken. It's not only our full offering of differentiated housing and sealing designs, but the technical support we deliver to help our customers achieve strong performance."   

Timken has built its mounted bearings portfolio from the ground up, through both organic growth and acquisitions. The company's mounted bearings are designed with the customer in mind, and the company's engineering knowledge is what differentiates its products. For example, Timken's split cylindrical mounted bearings are split to the shaft, making them easy to install and maintain for sites like water treatment facilities, where equipment runs while submerged in water. Whenever the equipment needs to be stopped for maintenance, it presents the risk of releasing untreated water into the environment. Timken's split cylindrical design speeds up the replacement process, making these operations more environmentally safe and sustainable.

Timken continues to pursue business with original manufacturers to grow its installed base, which will help further support long-term aftermarket growth. The company is also investing in manufacturing facility technology, expanding distribution capabilities and enhancing customer service to support expected growth over the coming years.

About The Timken Company

The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and industrial motion 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 $4.1 billion in sales in 2021 and employs more than 18,000 people globally, operating from 43 countries. Timken has been recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies® by Ethisphere, and America's Best Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.

Timken® is a registered trademark of The Timken Company.

Media Relations:
Scott Schroeder
234.262.6420
scott.schroeder@timken.com

ⁱ Based on Company estimates.

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SOURCE The Timken Company

FAQ

What factors contributed to Timken's growth in mounted bearings?

Timken's growth in mounted bearings was driven by strong demand in sectors like agriculture, mining, and food and beverage, with sales increasing at more than double the rate of the U.S. industrial production index.

What is the significance of Timken's split cylindrical mounted bearings?

Timken's split cylindrical mounted bearings facilitate easy installation and maintenance, especially in water treatment facilities, thus enhancing operational efficiency and environmental safety.

How is Timken supporting future growth?

Timken is investing in manufacturing facility technology and enhancing distribution capabilities to support expected growth in its mounted bearings segment.

What role do engineered products play in Timken's strategy?

Engineered products are central to Timken's strategy, allowing the company to deliver differentiated solutions that meet the specific needs of its customers in challenging applications.