Timken Company

From Wikipedia, the free encyclopedia
Jump to: navigation, search
The Timken Company
Public
Traded as NYSETKR
S&P 400 Component
BSE522113
NSETIMKEN
Industry Manufacturing
Founded 1899; 118 years ago (1899)
St. Louis, Missouri USA,
Founder Henry Timken
Headquarters Jackson Township, Ohio, United States
Number of locations
187 (90 offices, 62 plants/service centers, 9 warehouse/distribution centers, 14 additional shipping centers, 12 technology/engineering 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
14,709[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]

In 1898, Henry Timken obtained a patent for the 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.[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]

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.[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 1941, during World War II, a shadow factory was built on a greenfield site at Duston in Northamptonshire, to produce roller bearings. At its peak over 4,000 people were employed there, the Duston works was closed in 2002, 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[10]—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. Timken operates eight locations in the US and Canada.

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 production facilities in Chennai and Jamshedpur.[11] Additionally, Timken also has an IT support center in Bangalore.[12][13]

Notable partnerships[edit]

References[edit]

External links[edit]