Displaying items by tag: Timken

US: Timken has acquired the Diamond Chain Company from Amsted Industries for an undisclosed sum. The US-based chain manufacturer supplies a range of industrial markets, which include material handling, mining and aggregates.

"The acquisition of the Diamond Chain Company adds another strong industrial brand with a reputation for quality, reliability and performance to Timken's growing power transmission portfolio," said Richard G Kyle, Timken president and chief executive officer. He added that the purchase was an ‘excellent strategic fit’ with Timken’s drives chain business and that it would aid its manufacturing presence in Asia.

The Diamond Chain Company was founded in 1890 and it has its headquarters in Indianapolis, Indiana. It has manufacturing operations in the US and China. It employs approximately 370 people.

India: Timken India, a subsidiary of the US-based Timken Company, has entered into a definitive agreement to acquire ABC Bearings, a manufacturer of tapered, cylindrical and spherical roller bearings and slewing rings. The deal has been structured as a merger of ABC Bearings into Timken India. It is expected to take at least six months to complete as clearances from various authorities are sought.

"Timken is a leader in the growing Indian bearing market, and the acquisition of ABC Bearings will expand our capacity, our customer base and our locally produced product breadth," said Richard G Kyle, Timken president and chief executive officer.

China: Timken Company has supplied bearings for one of China's largest vertical slag mills, featuring a 5.7m grinding table. The mill, one of several now utilising Timken bearings, was developed by CITIC Heavy Industries Co Ltd, one of China's top manufacturers of cement-producing equipment. According to CITIC, the new vertical slag mill produced by CITIC is expected to produce up to 1.2Mt/yr of ground slag for inclusion in cement and concrete products.

"Many sizable construction projects underway across China require large amounts of quality concrete," said Leong Fang, president of Timken China. "We work closely with CITIC and other customers in this important industry to make sure they can meet the growing demands of their customers for concrete and other construction materials. Our recent success is a testimony to teamwork and innovation for the two companies."