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Company type | Public |
---|---|
NYSE: TKR S&P 400 Component | |
Industry | Manufacturing |
Founded | 1899 St. Louis, Missouri USA, |
Founder | Henry Timken |
Headquarters | , |
Area served | Worldwide |
Key people | John M. Timken Jr.(Non-Executive Chairman of the Board of Directors), Tarak Mehta (President & CEO) |
Products | Bearings [1] Chain, Couplings, Clutches, Filtration Products, Hydraulic Components, Industrial Brakes, Linear Actuators, Seals, Universal Joints |
Services | Bearing Repair Services, Electric Motor Services, Gear Repair Services, Onsite Technical Services |
Revenue | US$ $4.8 billion (FY 2023) [2] |
US$ $657.1 million (FY 2023) [2] | |
US$ $408.0 million (FY 2023) [2] | |
Total assets | US$ $6.5 billion (FY 2023) [2] |
Total equity | US$ $2.7 billion (FY 2023) [2] |
Number of employees | 19,000 [3] (2023) |
Divisions | Engineered Bearings, Industrial Motion |
Subsidiaries | Timken Power Systems |
Website | www |
The Timken Company is a global manufacturer of bearings and power transmission products. [4] 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 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. [5] [ non-primary source needed ]
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. [6] 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. [7]
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. [8] 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. [9] 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. [10]
By 1960, Timken had operations in the U.S., Canada, Great Britain, France, South Africa, Australia and Brazil. [11] Timken Research was created in 1966 to establish technological leadership and to help standardize research and development processes across the company. [12]
Timken expanded into new global markets throughout the 1970s and 1980s, establishing a sales operation in Japan in 1974 [13] and opening sales offices in Italy, Korea, Singapore and Venezuela in 1988. [14] 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. [15]
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. [16] The Timken Company continues to manufacture roller bearings, while TimkenSteel, which changed its name to Metallus in 2024, produces steel.
Timken entered the linear motion space in 2018 with the acquisition of Rollon, a maker of linear guides, telescopic rails, and linear actuators and systems used in a wide range of industrial and commercial applications. To further expand and strengthen its position in the attractive linear motion space, Timken acquired iMS in 2021 and added Nadella's complementary product portfolio in 2023.[ citation needed ]
In 2023, Timken expanded its Industrial Motion segment with the acquisitions of Des-Case, Rosa Sistemi and Lagersmit. The company also bolstered its engineered bearings portfolio in 2023 with the acquisitions of American Roller Bearing and Engineered Solutions Group (iMECH).
Timken posted $4.8 billion in sales in 2023 and employs more than 19,000 people globally, operating from 45 countries.[ citation needed ]
Timken is focused on expanding its tapered roller bearings and growing its offering of industrial bearings and mechanical power transmission products and services. [17] 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. [18] Timken products are used in a variety of diversified markets including food and beverage, energy harvesting, marine vessels, mining, agriculture, construction, civil aerospace, defense and commercial vehicles.[ citation needed ]
In 2023, Timken’s wheel bearings were used on Ford Motor Company's F-150 Lightning and Philadelphia Gear® main reduction gears were installed in the latest generation of United States Navy ships.
The Timken Company brands include: Timken bearings; GGB bearings; American Roller Bearing and Engineered Solutions Group (iMECH); Lagersmit sealing solutions; Rollon, Nadella and Rosa Sistemi linear motion products; Philadelphia Gear and Cone Drive gear drive solutions; Groeneveld-BEKA lubrication systems; Lovejoy couplings and universal joints; Torsion Control Products spring couplings; R+L Hydraulics hydraulic components; Diamond and Drives chain; PT Tech industrial clutches and brakes and Des-Case filtration solutions. 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.[ citation needed ]
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 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 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.
Timken 1111, also called the Timken Four Aces, was a 4-8-4 steam locomotive built in 1930 by American Locomotive Company (Alco) as a demonstration unit for new roller bearings produced by the Timken Roller Bearing Company. It was the first locomotive built with all sealed roller bearings rather than plain bearings or a combination of the two. It was later operated by the Northern Pacific Railroad as their 2626.
Tapered roller bearings are rolling element bearings that can support axial forces as well as radial forces.
A linear-motion bearing or linear slide is a bearing designed to provide free motion in one direction. There are many different types of linear motion bearings.
As the US Motors and Generators Business Unit of ABB, ABB Motors and Mechanical Inc. markets, designs, manufactures, and provides service for industrial electric motors, generators and mechanical power transmission products. This business was formerly known as Baldor Electric Company until its company name was merged into ABB on March 1, 2018.
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.
JTEKT Corporation TYO: 6473.T is a Japanese corporation created in January 2006 upon the merger of two companies: Koyo Seiko Co. and Toyoda Machine Works.
Schaeffler Technologies AG & Co. KG, also known as the Schaeffler Group, is a German manufacturer of rolling element bearings for automotive, aerospace and industrial uses. It was founded in 1946 by brothers Dr. Wilhelm and Dr.-Ing. E. h. Georg Schaeffler.
The Frantz Manufacturing Company located in Sterling, Illinois, is a manufacturer and marketer of conveyor system components and steel ball products used in a variety of applications.
The Torrington Company was a firm that developed in Torrington, Connecticut, originally called the Excelsior Needle Company. It was formed in 1866 around the new idea of using a "cold swaging" technique to create better sewing machine needles, but also produced a lot of other things as it got bigger, since the 1950/ focusing mainly on producing bearings, especially needle bearings. In 1980, it was the largest employer in Torrington.
NTN Corporation is one of the most prominent manufacturers of bearings in Japan, second domestically only to NSK Ltd. The company is one of the largest exporters worldwide of friction-reducing products, such as constant-velocity joints.
Pacific Bearing Company, dbaPBC Linear and PBC Lineartechnik GmbH, is a manufacturer and distributor of plain bearings, linear guides and custom machined parts.
Auburn Bearing & Manufacturing is a designer and manufacturer of ball and roller thrust bearings and custom machined components and is owned and operated in the small town of Macedon in Upstate New York. Founded in 1898, Auburn Bearing is one of the oldest continuously operating thrust ball bearing manufacturers in the United States. Auburn Bearing & Manufacturing is most known for its line of thrust bearings that incorporate a "V" groove raceway, historically known as the "Auburn Groove," which is specifically designed to reduce rolling friction by containing the ball bearings with four points of contact.
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.
GGB manufactures self-lubricating, prelubricated plain bearings and tribological polymer coating for various industries and applications. It has production facilities in the U.S., Germany, France, Slovakia, Brazil and China.
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.
A spherical roller thrust bearing is a rolling-element bearing of thrust type that permits rotation with low friction, and permits angular misalignment. The bearing is designed to take radial loads, and heavy axial loads in one direction. Typically these bearings support a rotating shaft in the bore of the shaft washer that may be misaligned in respect to the housing washer. The misalignment is possible due to the spherical internal shape of the house washer.
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