Timken Company

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The Timken Company
Public
Traded as NYSETKR BSE522113 NSETIMKEN
Industry Manufacturing
Founded St. Louis, Missouri USA, 1899
Founder Henry Timken
Headquarters North Canton, Ohio, United States
Number of locations
188 (91 offices, 62 plants, 9 warehouses/distribution centers, 14 shopping centers, 12 tech engineer centers)[1]
Area served
Worldwide
Key people
John M. Timken Jr.(Non-Executive Chairman of the Board of Directors), Richard G. Kyle (President & CEO)
Products [Bearings]]
[2]
Revenue DecreaseUS$ $3.1 billion (FY 2014)[3]
DecreaseUS$ $208.4 million (FY 2014)[3]
IncreaseUS$ $146.8 million (FY 2014)[3]
Total assets DecreaseUS$ $3.0 billion (FY 2014)[3]
Total equity IncreaseUS$ $1.58 billion (FY 2014)[3]
Number of employees
16,000[3]
Website www.timken.com

The Timken Company is a global manufacturer of bearings, and related components and assemblies.[4] Timken operates in 28 countries.

Company history[edit]

Further information: Timken Roller Bearing Company

The company was founded by Henry Timken in St. Louis in 1899 and incorporated as The Timken Roller Bearing Axle Company. In 1898, Henry Timken obtained a patent for the tapered roller bearing.

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.[5]

Some UK steam locomotives also used roller bearings. The LMS Turbomotive was fitted with Timken roller bearings, and they also were retrofitted to some of the LMS Coronation class.[6]

A split in the company happened on June 30, 2014 at the urging of shareholders. The roller bearing producing part of the company split from the steel producing part of the company, resulting in two separate companies.[7] The Timken Company continues to manufacture roller bearings, while TimkenSteel produces steel.

Company overview[edit]

The Timken Company brands includes Timken, Fafnir, Philadelphia Gear, Interlube and Drives.[7]

Timken is a member of World Bearing Association (WBA), a non-profit and unincorporated industrial association.

British Timken offices and works in Northampton, England in 2001 prior to demolition a few years later.

British Timken[edit]

British Timken was established in Chester Road, Aston, Birmingham in 1937, to manufacture tapered roller, parallel roller and ball bearings.

In World War II a shadow factory was built in 1941 on a green-field site at Duston in Northamptonshire, to produce roller bearings. At its peak over 4,000 people were employed in the factory. In 2002 the Duston works were closed and the site cleared for housing with production moving to Poland.[8][9]

Present-day operations[edit]

In 2003 the company acquired its largest domestic competitor in the bearing business—The Torrington Company of Torrington, Connecticut. In 2007 it acquired the Purdy Corporation of Manchester, Connecticut. Renamed Timken Aerospace Transmissions, it is part of the Timken Aerospace & Defense division headquartered in Lebanon, New Hampshire.

The company also manufactured test equipment for various purposes, including properties of lubricating oil. This resulted in the company lending its name to the industry standard Timken OK Load metric.

Timken has been present in India since 1987 and has a production facility in the city of Jamshedpur. Additionally, Timken also has an IT support center in Bangalore.[10][11]

Notable partnerships[edit]

References[edit]

  1. ^ "Locations". Timken Company. 
  2. ^ "Products". Timken Company. 
  3. ^ a b c d e f "Timken Co. (TKR)". Yahoo! Finance. 
  4. ^ About Us
  5. ^ The Timken Company: Information and Much More from Answers.com
  6. ^ Stanier locomotives on steamindex.com
  7. ^ a b Pritchard, Edd (June 30, 2014). "Canton Repository". Retrieved Oct 2, 2014. 
  8. ^ British Industrial History accessed 1 January 2012
  9. ^ British Timken to axe 950 jobs BBC News 26 April 2001, accessed 1 January 2012
  10. ^ http://articles.economictimes.indiatimes.com/2012-11-12/news/35067221_1_stock-market-timken-india-growth-path
  11. ^ (Press Release) http://www.timken.com/en-in/about/timkeninindia/Pages/Home.aspx
  12. ^ Bloomberg News Release

External links[edit]