Timken Completes Acquisition of GGB Bearings

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Nov 07, 2022, 06:51 ET

NORTH CANTON, Ohio, Nov. 7, 2022 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in engineered bearings and industrial motion products, has completed its previously announced acquisition of GGB Bearings.

Founded in 1899, GGB Bearings serves a variety of diverse customers, markets, geographies and applications with a product portfolio that complements existing Timken industry-leading engineered bearing solutions. GGB Bearings' revenue is expected to be around $200 million in fiscal year 2022. With manufacturing facilities across the United States, Europe and China, GGB Bearings employs approximately 900 people and has a global engineering, distribution and sales footprint.

GGB Bearings is a global technology and market leader of premium engineered metal-polymer plain bearings with expertise in material science, surface engineering and tribology. Its tribology solutions in plain bearing coatings complement Timken's leading positions in roller and ball bearings. GGB Bearings' products are used mainly in industrial applications, including pumps and compressors, HVAC, off-highway, energy, material handling and aerospace.

About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and industrial motion 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 $4.1 billion in sales in 2021 and employs more than 18,000 people globally, operating from 43 countries. Timken has been recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies® by Ethisphere, and America's Best Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.