Timken expands power transmission line through acquisition

  • 03-Oct-2011 02:59 EDT

The Timken Co. has agreed to acquire privately held Drives LLC for $92 million in cash. Drives is a Fulton, IL-based manufacturer of highly engineered drive-chains, roller-chains, and conveyor augers for the agricultural and industrial markets. This purchase—along with Timken’s recent acquisitions of Philadelphia Gear and QM Bearings—increases the breadth of Timken’s mechanical power transmission product offerings for a range of machinery applications and moves the company beyond its original focus on bearings. Christopher Coughlin, President of Timken’s Process Industries segment, noted that Drives’ engineered products are also suitable for mobile and industrial machinery in oil and gas, aggregate and mining, primary metals, forest products, and other heavy industries. Timken expected to complete the transaction before the end of September.

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