The hottest Timken Company announced its acquisiti

2022-10-03
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Timken announced its acquisition plan to expand the industrial product portfolio of processing equipment.

Timken announced its acquisition plan to expand the industrial product portfolio of processing equipment.

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Guide: on July 20, 2010, it is expected that it will be fully put into production in 2017. On July 20, 2010, Timken Company (nyse: TKR) announced that it has agreed to acquire QM bearing and power transmission Co., Ltd., which is registered in Ferndale, Washington. The steel self-aligning roller bearings with seats, elastic and steel couplings manufactured by QM company are used in industries such as sawing, logging and processing

July 20, 2010 - Timken Corporation (nyse: TKR) announced that it had agreed to acquire QM bearing and power transmission Co., Ltd. registered in Ferndale, Washington, USA. The steel self-aligning roller bearings with seats, elastic and steel couplings manufactured by QM company are used in processing industries with severe working conditions, such as sawmilling and processing industry

the acquisition of QM company is in line with the development strategy of tiem's "shoes of the week" Ken company, which not only strengthens the company's penetration in the field of high-performance applications, but also further expands the strength of power transmission business beyond the original core bearing business. This acquisition reflects the concept that Timken has always been committed to, that is, to provide a wider range of friction management and power transmission solutions to extend the service life of customers' mechanical products

the new QM product line will be a useful supplement to Timken's newly released E-Series product line, strengthen the company's brand position in the business field of roller bearings with seats, and provide more products and services for forestry and other industries that have high requirements for the mechanical performance and durability of products

"QM products are an excellent supplement to Timken. Its reliable and high value-added product line enables us to provide customers in the processing equipment industry with a richer choice of high-performance products," said Chris Coughlin, President of the processing equipment industry department of Timken, "New products are a very good supplement to our existing product line, and Timken's attention to the distribution business will further promote its entry into the global after-sales market business channel."

the acquisition will take effect after being reviewed and approved by the relevant government and regulatory authorities, and is expected to achieve revenue in the first full year after the acquisition. Timken expects the transaction to be completed in the fourth quarter of 2010, and the specific terms of the transaction have not been disclosed

The export proportion of QM bearings and power transmission to emerging countries will also be greatly increased. The company was founded in 1951 and initially served regional sawmills and logging customers. Since then, the company began to design and produce bearing products to meet the needs of logging equipment that usually works in harsh environments. In the past 12 months, QM's cumulative sales revenue exceeded US $14million

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