NORTH CANTON, Ohio, Dec. 1, 2020 /PRNewswire/ -- The Timken Company (NYSE: TKR), a world leader in engineered bearings and power transmission products, has acquired the assets of Aurora Bearing Company (Aurora). Aurora manufactures rod ends and spherical plain bearings, which serve a diverse range of industrial sectors, including aerospace and defense, racing, off-highway equipment and packaging. Its sales are expected to be around $30 million for the full year 2020.
"Aurora builds on our global leadership position in engineered bearings by increasing our product breadth, which will help us serve the bearing space more completely," said Christopher A. Coughlin, Timken executive vice president and group president. "The Aurora product line and market mix complements our portfolio very well."
Privately owned and operated since its founding in 1971, Aurora employs approximately 220 people, with its headquarters, manufacturing and research and development based in Montgomery, Ill.
This transaction advances Timken's strategy, which is focused on growing its leadership position in engineered bearings while diversifying the company's portfolio into adjacent products and markets.
Other terms of the transaction were not disclosed.
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 $3.8 billion in sales in 2019 and employs more than 17,000 people globally, operating from 42 countries.
Media Relations:
Scott Schroeder
234.262.6420
[email protected]
Investor Relations:
Neil Frohnapple
234.262.2310
[email protected]
View original content to download multimedia:http://www.prnewswire.com/news-releases/timken-acquires-aurora-bearing-co-301181938.html
SOURCE The Timken Company