NORTH CANTON, Ohio, Feb. 1, 2023 /PRNewswire/ — The Timken Company (NYSE: TKR; www.timken.com), a global industrial leader in engineered bearings and industrial motion products, has acquired the assets of American Roller Bearing Company (ARB), a North Carolina-based manufacturer of industrial bearings. ARB’s offerings join Timken’s industry-leading portfolio of engineered bearing solutions. ARB, which boasts a large U.S. installed base and strong aftermarket business, generated sales of more than $30 million in 2022.
“ARB’s end-market mix, customer base and aftermarket position fit our Timken business model extremely well,” said Richard G. Kyle, Timken president and chief executive officer. “We’re proud to welcome ARB and its employees into The Timken Company.”
ARB employs approximately 190 people and operates manufacturing facilities in Hiddenite and Morganton, N.C. Prior to this transaction, three generations of the Succop family owned and operated ARB since its founding in 1911.
Timken funded the transaction with cash on hand.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com)designs a growing portfolio of engineered bearings and industrial motion products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $4.1 billion in sales in 2021 and employs more than 18,000 people globally, operating from 43 countries. Timken has been recognized among America’s Most Responsible Companies by Newsweek, the World’s Most Ethical Companies® by Ethisphere, and America’s Best Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.
Read more here.
