Timken Completes Acquisition of QM Bearings and Power Transmission

CANTON, Ohio, Sept. 21 /PRNewswire-FirstCall/ -- The Timken Company (NYSE: TKR) today announced it has completed the acquisition of QM Bearings and Power Transmission, Incorporated, based in Ferndale, Washington. That location, as well as manufacturing facilities in Prince George, British Columbia, and Wuxi, China, along with distribution facilities in Ontario, Texas, and Cuyahoga Falls, Ohio, will become part of the Process Industries segment of Timken's Bearings and Power Transmission Group.

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The acquisition is expected to be accretive to Timken's earnings in its first full year with the company.  The addition of spherical roller-bearing steel-housed units and elastomeric and steel couplings expands Timken's capabilities beyond its existing, core lines for especially demanding applications such as sawmill and cement operations.

"We welcome QM associates to Timken's family of businesses and look forward to serving our customers with a broader offering of high-performance products for demanding power-transmission applications," said Michael C. Arnold, president of Timken's Bearings and Power Transmission Group.

QM has approximately 100 employees in the United States, Canada and China, and posted sales of more than $14 million for the 12-month period through June 30, 2010.

About The Timken Company

The Timken Company (NYSE: TKR, http://www.timken.com) keeps the world turning with innovative friction management and power transmission products and services, enabling its customers' machinery to perform more efficiently and reliably. With sales of $3.1 billion in 2009, operations in 27 countries/territories and approximately 17,000 employees, Timken is Where You Turn^® for better performance.

Certain statements in this news release (including statements regarding the company's forecasts, beliefs, 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 related to Timken's plans and outlook, including the expectation that the acquisition of QM Bearings and Power Transmission will be accretive to Timken in the first full year, 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: the company's ability to respond to the changes in its end markets that could affect demand for the company's products; unanticipated changes in business relationships with customers or their purchases from the company; changes in the financial health of the company's customers, which may have an impact on the company's revenues, earnings and impairment charges; fluctuations in raw-material and energy costs and their impact on the operation of the company's surcharge mechanisms; the impact of the company's last-in, first-out accounting; continued weakness in global economic conditions and financial markets; changes in the expected costs associated with product warranty claims; the impact on operations of general economic conditions, higher or lower raw-material and energy costs, fluctuations in customer demand; the company's ability to achieve the benefits of its ongoing programs and initiatives; the ability of the Company to successfully integrate QM Bearings and Power Transmission into its operations; the impact of QM Bearings and Power Transmission's results of operations on the company's ability to achieve fully the strategic and financial objectives related to the proposed acquisition, including the acquisition being accretive to the company's earnings; and unexpected costs or liabilities that may arise from the acquisition of QM Bearings and Power Transmission.  Some of these factors and additional factors are described in greater detail in the company's Quarterly Report on Form 10-Q for the second quarter ended June 30, 2010 and Annual Report on Form 10-K for the year ended December 31, 2009, page 50. The company undertakes no obligation to update or revise any forward-looking statement.

The Timken Company

Media Contact: Lorrie Paul Crum, Manager – Global Media and Strategic Communications, Mail Code: GNW-37, 1835 Dueber Avenue, S.W., Canton, OH 44706 U.S.A., Telephone: (330) 471-3514, Mobile: (330) 224-5021, [email protected]

Investor Contact: Steve Tschiegg, Director – Capital Markets and Investor Relations, Mail Code: GNE-26, 1835 Dueber Avenue, S.W., Canton, OH 44706 U.S.A., Telephone: (330) 471-7446, [email protected]

For Additional Information:

www.timken.com/media

www.timken.com/investors

SOURCE The Timken Company

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