Changes

{{short description|American industrial company}}

{{short description|American industrial company}}

{{Infobox company

|{{Infobox company

| name = The Timken Company

| name = The Timken Company

| logo = Timken.svg

| logo = TimkenLogo.png

| logo_size = 250px no

| logo_size = 250px no

| type = [[Public company|Public]]

| type = [[Public company|Public]]

| production =  

| production =  

| services =  

| services =  

| revenue = {{decrease}}[[United States Dollar|US$]] $3.51 billion <small>(''FY 2020'')</small><ref name="Yahoo! Finance">{{cite web|url=https://finance.yahoo.com/q?s=TKR|title=Timken Co. (TKR)|publisher=Yahoo! Finance}}</ref>

| revenue = {{increase}}[[United States Dollar|US$]] $4.0 billion <small>(''FY 2019'')</small><ref name="Yahoo! Finance">{{cite web|url=https://finance.yahoo.com/q?s=TKR|title=Timken Co. (TKR)|publisher=Yahoo! Finance}}</ref>

| operating_income = {{nowrap|{{increase}}[[United States Dollar|US$]] $545.9 million <small>(''FY 2017'')</small>}}<ref name="Yahoo! Finance"/>

| operating_income = {{nowrap|{{increase}}[[United States Dollar|US$]] $284.7 million <small>(''FY 2017'')</small>}}<ref name="Yahoo! Finance"/>

| net_income = {{increase}}[[United States Dollar|US$]] $292.4 million <small>(''FY 2017'')</small><ref name="Yahoo! Finance"/>

| net_income = {{increase}}[[United States Dollar|US$]] $202.3 million <small>(''FY 2017'')</small><ref name="Yahoo! Finance"/>

| assets = {{increase}}[[United States Dollar|US$]] $5.0 billion <small>(''FY 2017'')</small><ref name="Yahoo! Finance"/>

| assets = {{increase}}[[United States Dollar|US$]] $3.4 billion <small>(''FY 2017'')</small><ref name="Yahoo! Finance"/>

| equity = {{increase}}[[United States Dollar|US$]] $2.2 billion <small>(''FY 2017'')</small><ref name="Yahoo! Finance"/>

| equity = {{increase}}[[United States Dollar|US$]] $1.5 billion <small>(''FY 2017'')</small><ref name="Yahoo! Finance"/>

| owner =  

| owner =  

| num_employees = 17,000<ref>{{Cite web|url=http://fortune.com/fortune500/timken/|title=Timken|website=Fortune|access-date=2019-03-05}}</ref>

| num_employees = 18,000<ref>{{Cite web|url=http://fortune.com/fortune500/timken/|title=Timken|website=Fortune|access-date=2019-03-05}}</ref>

| num_employees_year = 2019

| num_employees_year = 2019

| parent =  

| parent =  

| homepage = {{URL|http://www.timken.com/}}

| homepage = {{URL|http://www.timken.com/}}

| footnotes =  

| footnotes =  

}}

|company_name=TImken}}

 

The '''Timken Company''' is a global manufacturer of [[bearing (mechanical)|bearings]] and power transmission products.<ref>[http://www.timken.com/en-us/about/Pages/CorporateOverview.aspx About Us]</ref> Timken operates from 42 countries.  

The '''Timken Company''' is an American manufacturer of [[bearing (mechanical)|bearings]] and related components and assemblies.<ref>[http://www.timken.com/en-us/about/Pages/CorporateOverview.aspx About Us]</ref> For many decades it was also a [[steelmaking|steelmaker]] concentrating mainly on [[alloy steel]] tube, but the steel business line was [[corporate spin-off|spun off]] to TimkenSteel in 2014. Timken operates from 33 countries.

== Company history==

== Company history==

{{Further|Timken Roller Bearing Company}}

{{Further|Timken Roller Bearing Company}}

In 1898, [[Henry Timken]] obtained a patent for an improved [[tapered roller bearing]], and in 1899 incorporated as '''[[The Timken Roller Bearing Axle Company]]''' in St. Louis.

In 1898, [[Henry Timken]] obtained a patent for an improved [[tapered roller bearing]], and in 1899 incorporated as '''The Timken Roller Bearing Axle Company''' in St. Louis.

In 1901, the company moved to [[Canton, Ohio]], as the [[automobile]] industry began to overtake the carriage industry. Timken and his two sons chose this location because of its proximity to the American car manufacturing centers of [[Detroit]] and [[Cleveland]] and the American steel-making centers of [[Pittsburgh]] and Cleveland.

In 1901, the company moved to [[Canton, Ohio]], as the [[automobile]] industry began to overtake the carriage industry. Timken and his two sons chose this location because of its proximity to the American car manufacturing centers of [[Detroit]] and [[Cleveland]] and the American steel-making centers of [[Pittsburgh]] and Cleveland.

Timken expanded into new global markets throughout the 1970s and 1980s, establishing a sales operation in Japan in 1974<ref>Pruitt, Bettye H. and Jeffrey R. Yost. Timken: From Missouri to Mars – A Century of Leadership in Manufacturing. Harvard Business School Press, 1998, p. 429.</ref> and opening sales offices in Italy, Korea, Singapore and Venezuela in 1988.<ref>Pruitt, Bettye H. and Jeffrey R. Yost. Timken: From Missouri to Mars – A Century of Leadership in Manufacturing. Harvard Business School Press, 1998, p. 431.</ref> By the late 1990s Timken also had a sales presence in Spain, Hong Kong, China and Singapore.

Timken expanded into new global markets throughout the 1970s and 1980s, establishing a sales operation in Japan in 1974<ref>Pruitt, Bettye H. and Jeffrey R. Yost. Timken: From Missouri to Mars – A Century of Leadership in Manufacturing. Harvard Business School Press, 1998, p. 429.</ref> and opening sales offices in Italy, Korea, Singapore and Venezuela in 1988.<ref>Pruitt, Bettye H. and Jeffrey R. Yost. Timken: From Missouri to Mars – A Century of Leadership in Manufacturing. Harvard Business School Press, 1998, p. 431.</ref> By the late 1990s Timken also had a sales presence in Spain, Hong Kong, China and Singapore.

Timken acquired its competitor, The Torrington Company, in 2003 for $840 million, doubling the size of the company and creating the world's third-largest bearing manufacturer at that time.<ref>https://www.wsj.com/articles/SB1034805403924015068</ref>

On January 1, 2010, Timken sold the needle roller bearing business to the Japanese company [[JTEKT]].<ref>https://news.timken.com/2009-12-31-Timken-Finalizes-Sale-of-Needle-Roller-Bearings-Business-to-JTEKT</ref>

The company changed its corporate structure in 2014; the roller bearing-producing part of the company was separated from the steel-producing part of the company, resulting in two separate companies.<ref name=":0">{{Cite web|url = http://www.cantonrep.com/article/20140630/Business/140639961|title = Canton Repository|date = June 30, 2014|access-date = Oct 2, 2014|last = Pritchard|first = Edd}}</ref> The Timken Company continues to manufacture roller bearings, while TimkenSteel produces steel.

The company changed its corporate structure in 2014; the roller bearing-producing part of the company was separated from the steel-producing part of the company, resulting in two separate companies.<ref name=":0">{{Cite web|url = http://www.cantonrep.com/article/20140630/Business/140639961|title = Canton Repository|date = June 30, 2014|access-date = Oct 2, 2014|last = Pritchard|first = Edd}}</ref> The Timken Company continues to manufacture roller bearings, while TimkenSteel produces steel.

== Company overview ==

== Company overview ==

Timken is currently focused on expanding its global leadership in tapered roller bearings and growing its offering of industrial bearings and mechanical power transmission products and services.<ref>http://investors.timken.com/Cache/1001233921.PDF?O=PDF&T=&Y=&D=&FID=1001233921&iid=4645763</ref> Today the company engineers, manufactures and markets bearings, gear drives, automated lubrication systems, belts, chain, couplings and linear motion products, and offers a spectrum of powertrain rebuild and repair services.<ref>https://www.timken.com/products/</ref> Timken engineering knowledge in metallurgy, tribology and power transmission is applied across bearings and related systems to improve the reliability and efficiency of machinery around the world. Applications range from the Mars Rover<ref>https://www.oemoffhighway.com/drivetrains/hardware/press-release/10755722/timken-bearings-being-put-to-work-on-mars</ref> to offshore wind turbines.<ref>https://www.energy.gov/articles/timken-producing-parts-wind-turbines</ref>

Timken is currently focused on expanding its global leadership in tapered roller bearings and growing its offering of industrial bearings and mechanical power transmission products and services.<ref>http://investors.timken.com/Cache/1001233921.PDF?O=PDF&T=&Y=&D=&FID=1001233921&iid=4645763</ref> Today Timken engineers, manufactures and markets bearings, gear drives, automated lubrication systems, belts, chain, couplings and linear motion products, and offers a spectrum of powertrain rebuild and repair services.<ref>https://www.timken.com/products/</ref> Timken engineering knowledge in metallurgy, tribology and power transmission is applied across bearings and related systems to improve the reliability and efficiency of machinery around the world. Applications range from the Mars Rover<ref>https://www.oemoffhighway.com/drivetrains/hardware/press-release/10755722/timken-bearings-being-put-to-work-on-mars</ref> to offshore wind turbines.<ref>https://www.energy.gov/articles/timken-producing-parts-wind-turbines</ref>

 

The company is a member of the World Bearing Association (WBA), a non-profit and unincorporated industrial association committed to ending bearing counterfeiting globally.<ref>https://www.americanbearings.org/page/WhyJoinABMA</ref>

The Timken Company brands include: Timken bearings, Fafnir bearings, EDT bearing housed units, Lovejoy couplings and universal joints, Drives chain, Groeneveld lubrication solutions, Interlube lubrication systems, Philadelphia Gear power systems, Cone Drive worm gear drives, Torsion Control Products spring couplings, Bii aerospace bearing inspection services, PTTech industrial clutches and brakes, Rollon linear motion products, and R+L Hydraulics hydraulic components.

The company promotes Corporate Social Responsibility through its actions in the industries it serves and communities where it operates. Timken solutions are designed into new wind and solar energy operations to improve operating efficiency and positively affect the environment. Renewable energy makes up 12% of Timken’s total sales.<ref>https://s27.q4cdn.com/749962998/files/doc_financials/2020/ar/2020-Annual-Report.pdf</ref> The company’s charitable trust, The Timken Company Charitable and Education Fund, has awarded more than $25 million in college scholarships since the scholarship program’s inception in 1958.

Timken is a member of the World Bearing Association (WBA), a non-profit and unincorporated industrial association.<ref>https://www.americanbearings.org/page/WhyJoinABMA</ref>

==References==

==References==