NORTH CANTON, Ohio, Nov. 18, 2014 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com) today announced it has
reached agreement with ERIKS NV to acquire the assets of Revolvo Ltd., a specialty bearing company based in
Dudley, U.K. Revolvo makes and markets ball and roller bearings for industrial
applications in process and heavy industries. The company's split roller bearing housed units are widely used by
mining, power generation, food and beverage, pulp and paper, metals, cement, marine and waste-water end users.
In 2013, Revolvo posted sales of approximately $8.3 million.
Timken has been steadily adding to its product portfolio as part of its growth strategy and over the past three
years has acquired a number of new products and services including roller and engineered chain,
lubrication systems, and gearbox, generator and motor repair services. The company sees Revolvo as both
highly complementary and integral to filling out the Timken bearing product lines.
"We're pleased to have Revolvo become part of Timken," said Hans Landin, product line executive, power
transmission and engineering systems for Timken. "The Revolvo team brings a wealth of experience and
well-established customer relationships, and their split roller bearing housed unit line will strengthen the
Timken portfolio of bearing and power transmission products.
"These split bearing housed units bring additional breadth to our industrial product solutions while addressing
specific customer needs," Landin added. "Revolvo's expertise and quality product line, coupled with Timken's
global reach and market access, will allow us to leverage resources to improve competitiveness and accelerate
the growth of housed unit products, particularly in Europe and Asia."
Revolvo's line of split-to-the-shaft roller bearing housed units enables the bearing to be fitted without
requiring access to the shaft ends. Instead, it can be built around the shaft, which reduces downtime because no
other drive components must be removed during installation or for maintenance. The product design accommodates
misalignment, helps extend up-time, reduces maintenance costs and increases plant efficiency for end
users.
The acquisition, expected to close within the next few weeks, is subject to certain customary closing conditions,
including employee consultation. Terms were not disclosed.
About Revolvo Ltd.
Revolvo Ltd. (www.Revolvo.com), a leading
global specialist of split roller housed unit bearing supplier, manufactures solid and SRB split roller
bearings in sizes from 15mm bore to over 1500mm outside diameter. Recognized for its quality, technical
expertise, design and production capacity to deliver special custom designed RPP precision products and obsolete
size of inch and metric solid and roller bearings. Based in Dudley, U.K.,
Revolvo provides solutions for mining, food and beverage, pulp and paper, metals, cement, marine and waste water
industries.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) designs, engineers, manufactures and markets Timken®
bearings, transmissions, gearboxes, chain and related products, and offers a spectrum of power system rebuild
and repair services around the world. The leading authority on tapered roller bearings, Timken today applies its
deep knowledge of metallurgy, tribology and power transmission across the broad spectrum of bearings and related
systems to improve the reliability and efficiency of machinery and equipment all around the world. Known for its
quality products and collaborative technical sales model, Timken posted $3 billion
in sales in 2013 (excluding Steel business sales). With approximately 17,000 people operating from 28 countries,
Timken makes the world more productive and keeps industry in motion.
Certain statements in this release (including statements regarding the company's estimates and expectations)
that are not historical in nature are "forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995. In particular, the statements regarding the company's expectations
for growth in Europe and Asia and the
timing of the closing of the acquisition are forward-looking. The company cautions that actual results may
differ materially from those projected or implied in forward-looking statements due to a variety of
important factors, including our ability to successfully close the transaction and integrate the business
into our operations. Additional factors are discussed in the company's filings with the Securities and
Exchange Commission, including the company's Annual Report on Form 10-K for the year ended Dec. 31, 2013, quarterly reports on Form 10-Q and current reports on Form 8-K.
Except as required by the federal securities laws, the company undertakes no obligation to publicly update
or revise any forward-looking statement, whether as a result of new information, future events or
otherwise.
Logo - http://photos.prnewswire.com/prnh/20100210/TIMKENLOGO
Media Contact: Gloria Irwin
Global Media Relations
Telephone: (234) 262-3514
gloria.irwin@timken.com
Investor Contact: Steve Tschiegg
Director – Capital Markets & Investor Relations
Telephone: (234) 262-7446
steve.tschiegg@timken.com
SOURCE The Timken Company