The Timken Co - Company Profile
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Business Description
The Timken Co (Timken) is a global manufacturer of engineered bearings and power transmission products. It produces mechanical components for use in automotive light and commercial vehicles, industrial equipment and machinery, marine, food and beverage, energy, rail, agriculture, metals and mining, civil and military, construction and other personal and commercial machinery.
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R&D Overview
Timken’s R&D operations focus on delivering innovative engineered bearings and mechanical power transmission solutions and technical services. It keeps a close eye on the latest trends and opportunities in the field, including emerging technologies such as digital manufacturing and automation, heat treatment technologies, performance modeling, and advanced lubrication science. The company aims at developing novel techniques in its manufacturing facilities to improve product quality. The company's recent discovery of studying the distortions produced in bearings due to manufacturing processes is an example of its R&D capabilities. In FY2022, the company’s R&D expenditures amounted to US$103.4 million, which was 2.3% of its revenue and increased 8.7% YoY.
Business Segments
Overview
Serves original equipment manufacturers (OEMs) customers that manufacture off-highway equipment for mining, construction and agriculture, outdoor power equipment and powersports markets and on-highway commercial and personal vehicles, locomotives and railcars. Offers bearings, belts, transmissions, gearboxes, chains, industrial clutches and brakes, lubrication systems and couplings. Also offers aftermarket sales and services to equipment owners and operators and maintenance shops through a network of authorized automotive and heavy-truck distributors. Provides power transmission equipment, turbine engine components, gears and housing for civil and military aircraft. In FY2022, the segment’s capital expenditure stood at US$71.2 million, which grew 36.1% YoY.
Performance
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Overview
Serves original equipment manufacturers (OEMs) and end user customers that require fixed operating equipment in industries such as cement and aggregate production, metals, wind and coal power generation; oil and gas production and refining; automation and robotics; food and pulp and paper processing and health and critical motion control equipment. Supplies bearings, assemblies, belts, chains, lubrication systems, transmissions, gears and gearboxes, linear motion products, couplings, seals, industrial clutches and brakes among others through two reporting units; Process Industries and Industrial Services. Also offers power system rebuild and repair services. The products also find applications in gear drives, marine equipment, cranes, hoists and conveyors. Also offers aftermarket sales and services through a network of authorized automotive and heavy-truck distributors. In FY2022, the segment’s capital expenditure stood at US$105.8 million, which grew 10.9% YoY.
Performance
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Geographical Segments
- Americas excluding United States
- Asia-Pacific excluding China
- China
- Europe/Middle East/Africa
- United States
Performance
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Performance
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Performance
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Performance
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Performance
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