News / Timken Acquires EDT Corp., Further Expanding Its Portfolio Of Bearing Housed Units
Date: 2016-11-11
Timken Acquires EDT Corp., Further Expanding Its Portfolio Of Bearing Housed Units
The Timken Company (NYSE: TKR; ), a world leader in engineered bearings and mechanical power transmission products, today announced that it has acquired EDT Corp., a manufacturer of polymer housed units and stainless steel ball bearings used widely by the food and beverage industry.
"We market a broad range of bearing housed units and are pleased to add the EDT line to our portfolio," said Chris Coughlin, group president for The Timken Company. "We see this acquisition as an excellent strategic fit, allowing Timken to simultaneously build on the inherent strengths of the EDT team and leverage our expanded marketplace offering, thereby increasing our presence in the food and beverage segment."
EDT Corp. is based in Vancouver, Wash., and serves a well-established customer base primarily through North American distributors with whom Timken has long-standing relationships. EDT® bearings are designed and manufactured to meet the highest level of food safety and sanitation requirements. The line includes a range of non-corrosive, greaseless, wash-down-resistant and extreme temperature bearings and accessories. In 2015, EDT Corp. revenue was less than $10 million.
Timken has an industry-leading portfolio of housed unit bearings consisting of Timken, Fafnir, Revolvo and now EDT-branded products serving general industrial and other diverse markets such as metals, mining, lumber and food and beverage. The company offers a variety of durable, high-performance housed unit bearing styles, including ball and spherical roller bearing, solid-block tapered and spherical roller bearing, and split spherical and cylindrical roller bearing designs, that withstand the harshest operating conditions.
About The Timken Company
The Timken Company (NYSE: TKR;) engineers, manufactures and markets bearings, gear drives, belts, chain, couplings, and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company's growing product and services portfolio features many strong industrial brands including Timken®, Fafnir®, Philadelphia Gear®, Carlisle®, Drives®, Lovejoy® and Interlube™. Known for its quality products and collaborative technical sales model, Timken posted $2.9 billion in sales in 2015. With more than 14,000 employees operating from 28 countries, Timken makes the world more productive and keeps industry in motion.
Media Relations:
234.262.3514
mediarelations@timken.com
Investor Relations:
Jason Hershiser
234.262.7101
jason.hershiser@timken.com
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