| NYSE: TKR |
S&P 400 Component
St. Louis, Missouri USA,
|John M. Timken Jr.(Non-Executive Chairman of the Board of Directors), Richard G. Kyle (President & CEO)|
|Products|| Bearings |
|Revenue||US$ $3.51 billion (FY 2020)|
|US$ $545.9 million (FY 2017)|
|US$ $292.4 million (FY 2017)|
|Total assets||US$ $5.0 billion (FY 2017)|
|Total equity||US$ $2.2 billion (FY 2017)|
Number of employees
The Timken Company is a global manufacturer of bearings and power transmission products.Timken operates from 42 countries.
In 1898, Henry Timken obtained a patent for an improved tapered roller bearing, and in 1899 incorporated as The Timken Roller Bearing Axle Company in St. Louis.
In 1901, the company moved to Canton, Ohio, as the automobile industry began to overtake the carriage industry. Timken and his two sons chose this location because of its proximity to the American car manufacturing centers of Detroit and Cleveland and the American steel-making centers of Pittsburgh and Cleveland.
In 1917, the company began its steel- and tube-making operations in Canton to vertically integrate and maintain better control over the steel used in its bearings. World War I had created an increase in demand for steel, affecting its supply and price in the market.
Timken entered international markets in the early 1900s, establishing a presence initially in Great Britain, France and Germany. The performance of Timken tapered roller bearings in World War I military equipment made an impression on the European bearing market.After the war, Great Britain rose to the position of #2 in the global automotive manufacturing market, creating opportunities for Timken to expand its European manufacturing presence.
Timken entered the Great Depression in a strong financial position and its performance placed it in the ranks of the most solid, well-managed industrial firms of the 1930s.Expanding into non-automotive markets like agriculture, machine tooling, industrial and rail softened the impact.
During World War II, Timken production increased dramatically to keep up with wartime demand. For instance, every U.S. jeep was built using 24 Timken® bearings. With 660,000 jeeps delivered to the U.S. military, Timken delivered more than 15.8 million bearings for those vehicles over the course of the war.Following the war, much of the machinery shipped to Europe under the Marshall Plan was Timken-bearing equipped, helping Timken establish a broader presence in a bearing market where European competitors had dominated.
By 1960, Timken had operations in the U.S., Canada, Great Britain, France, South Africa, Australia and Brazil.Timken Research was created in 1966 to establish technological leadership and to help standardize research and development processes across the company.
Timken expanded into new global markets throughout the 1970s and 1980s, establishing a sales operation in Japan in 1974and opening sales offices in Italy, Korea, Singapore and Venezuela in 1988. By the late 1990s Timken also had a sales presence in Spain, Hong Kong, China and Singapore.
Timken acquired its competitor, The Torrington Company, in 2003 for $840 million, doubling the size of the company and creating the world's third-largest bearing manufacturer at that time.
The company changed its corporate structure in 2014; the roller bearing-producing part of the company was separated from the steel-producing part of the company, resulting in two separate companies.The Timken Company continues to manufacture roller bearings, while TimkenSteel produces steel.
Timken is focused on expanding its tapered roller bearings and growing its offering of industrial bearings and mechanical power transmission products and services.Today the company engineers, manufactures and markets bearings, gear drives, automated lubrication systems, belts, chain, couplings and linear motion products, and offers a spectrum of powertrain rebuild and repair services. Timken engineering knowledge in metallurgy, tribology and power transmission is applied across bearings and related systems to improve the reliability and efficiency of machinery around the world. Applications range from Mars rovers to offshore wind turbines.
The Timken Company brands include: Timken bearings, Fafnir bearings, EDT bearing housed units, Lovejoy couplings and universal joints, Carlisle belts, Cone Drive worm gear drives, Drives chain, Diamond chain, Groeneveld-BEKA lubrication, Interlube lubrication systems, PT Tech industrial clutches and brakes, R+L Hydraulics hydraulic components, Rollon linear motion products and Torsion Control Products spring couplings. The company also operates Timken Power Systems, which supplies and services industrial drivetrain customers with repair, upgrade and service for bearings, gearboxes and electric motors.
Timken has a significant presence in India. The company's Indian subsidiary is called Timken India, and is publicly listed on the National Stock Exchange of India and the Bombay Stock Exchange.One of Timken India's largest customers is Indian Railways, and as of 2022, supplying to Indian Railways accounted for approximately 17% of Timken India's revenue. In 2018, Timken India acquired ABC Bearings, an Indian bearings manufacturing company.
AB SKF is a Swedish bearing and seal manufacturing company founded in Gothenburg, Sweden, in 1907. The company manufactures and supplies bearings, seals, lubrication and lubrication systems, maintenance products, mechatronics products, power transmission products, condition monitoring systems and related services globally.
A ball bearing is a type of rolling-element bearing that uses balls to maintain the separation between the bearing races.
A bearing is a machine element that constrains relative motion to only the desired motion, and reduces friction between moving parts. The design of the bearing may, for example, provide for free linear movement of the moving part or for free rotation around a fixed axis; or, it may prevent a motion by controlling the vectors of normal forces that bear on the moving parts. Most bearings facilitate the desired motion by minimizing friction. Bearings are classified broadly according to the type of operation, the motions allowed, or to the directions of the loads (forces) applied to the parts.
In mechanical engineering, a rolling-element bearing, also known as a rolling bearing, is a bearing which carries a load by placing rolling elements between two concentric, grooved rings called races. The relative motion of the races causes the rolling elements to roll with very little rolling resistance and with little sliding.
Tapered roller bearings are rolling element bearings that can support axial forces as well as radial forces.
Henry Timken was an inventor and businessman who founded the Timken Roller Bearing Company, later called the Timken Company. His family migrated to the United States when he was 7 years old. He began his business career in the St. Louis region. His inventions of an improved carriage spring and an improved roller bearing brought him the money needed to create a company dedicated to the latter.
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A spherical roller bearing is a rolling-element bearing that permits rotation with low friction, and permits angular misalignment. Typically these bearings support a rotating shaft in the bore of the inner ring that may be misaligned in respect to the outer ring. The misalignment is possible due to the spherical internal shape of the outer ring and spherical rollers. Despite what their name may imply, spherical roller bearings are not truly spherical in shape. The rolling elements of spherical roller bearings are mainly cylindrical in shape, but have a profile that makes them appear like cylinders that have been slightly over-inflated.
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Hyatt Roller Bearing Company was a manufacturer of roller bearings from 1892 to 1916, when it was acquired by General Motors. It continued as a distinct division of GM for many years. The company struggled at first, then entered a phase of profitable growth under the leadership of Alfred P. Sloan. The innovative design of Hyatt's roller bearings made them more durable and efficient than others. They were widely used in early automobiles by various manufacturers, and in industrial vehicles and equipment.
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