Date: 2013-08-01

Timken to Acquire Drives LLC, Further Expanding Power Transmission Line

CANTON, Ohio, Aug. 31, 2011 /PRNewswire/ -- The Timken Company (NYSE: TKR) today announced it has agreed to acquire privately held Drives LLC for $92 million in cash. Based in Fulton, Ill., Drives is a leading manufacturer of highly engineered drive-chains, roller-chains and conveyor augers for the agricultural and industrial marketplace. The company posted sales of approximately $100 million in the last 12 months, with 430 employees in North America.

"The Drives business brings significant expertise in precision-engineered chain and related products, especially among global equipment manufacturers in agricultural and food processing," said Christopher Coughlin, president of Timken's Process Industries segment. "Adding Drives will enhance our overall product portfolio for the industrial process and mobile markets and offers plenty of upside as we extend their line in the marketplace using Timken's global infrastructure."

Timken has been steadily expanding its product offering and capabilities to provide value-added solutions for a diverse range of machinery applications. This purchase

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