Timken Completes Acquisition of Nadella Group
NORTH CANTON, Ohio, April 4, 2023 /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 Nadella Group, a leading European manufacturer of linear guides, telescopic rails, actuators and systems and other specialized industrial motion solutions.
Based in Italy, Nadella has 450 employees and operates manufacturing facilities in Europe and China. The company posted revenue of approximately €100 million in 2022.
In 2018, Timken added linear motion products to its portfolio when it acquired Rollon, a leader in engineered linear guides, telescopic rails, actuators and systems, serving robotics, automation, logistics and other attractive market sectors. Nadella will further Timken's strategy to expand and scale its leading industrial motion product portfolio.
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 $4.5 billion in sales in 2022 and employs more than 19,000 people globally, operating from 46 countries. Timken has been recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies® by Ethisphere, America's Most Innovative Companies by Fortune and America's Best Large Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.
Media Relations:
Scott Schroeder
234.262.6420
[email protected]
Investor Relations:
Neil Frohnapple
234.262.2310
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SOURCE The Timken Company
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