NORTH CANTON, Ohio,
Nov. 1, 2019 /PRNewswire/ -- The
Timken Company (NYSE: TKR; www.timken.com), a global leader in
engineered bearings and power transmission products, has completed
its previously announced acquisition of BEKA Lubrication (BEKA), a
leading global supplier of automatic lubrication systems, for
approximately $165 million.
Founded in 1927, BEKA is a leading global supplier of
automatic lubrication systems, serving a diverse range of
industrial sectors including wind, food and beverage, rail, on- and
off-highway and other process industries. BEKA sales are expected
to be approximately $135 million for
the full year 2019.
This acquisition positions Timken as the world's second largest
producer of industrial automatic lubrication systemsi,
which extend equipment life and improve reliability over manual
lubrication methods, reduce the environmental impact caused by
over-lubricating and lower total costs for equipment and machine
owners.
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 $3.6 billion in sales in 2018
and employs more than 18,000 people globally, operating from 35
countries.
Media Relations:
Scott
Schroeder
234.262.6420
scott.schroeder@timken.com
Investor Relations:
Jason
Hershiser
234.262.7101
jason.hershiser@timken.com
iBased on industry and company estimates.
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SOURCE The Timken Company