Date: 2013-08-01

The Timken Company Acquires Extex Ltd

The Timken Company (USA; NYSE: TKR) has acquired Extex Ltd. (USA), a company which designs and sells replacement parts for aircraft engines.

Founded in 1995, Extex is based in Gilbert, Arizona. 2007 sales were just over USD $15 million.

Particularly valuable, Extex holds nearly 600 FAA parts manufacturer approval (PMA) component certifications [list here] . Timken's PMA portfolio thus grows from 1,400 to 2,000.

Timken said the additional PMA component base better positions the company to offer more comprehensive fleet support programs, including value-added asset management systems aimed at minimizing downtime for aircraft owners and operators.

Extex produces compressor and turbine blades and vanes, shrouds, bushing kits, nozzles and gears. The company's parts portfolio covers the Rolls-Royce A250 helicopter engine, Allison RR250, Pratt & Whitney PT6 variants, and Honeywell APUs.

J. Ron Menning, President of Timken's Aerospace and Defense business unit, said: "The combination of Extex's knowledge and engineering expertise with Timken's manufacturing capabilities make it a great addition to Timken's growing aerospace aftermarket solutions business. As we accelerate our growth in this strategic market sector, we will continue to extend our capabilities to meet the needs of our expanding aerospace customer base."

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