CANTON, Ohio, July 13 /PRNewswire-FirstCall/ -- As part of its ongoing strategy to offer improved value for customers through a broader and enhanced range of friction management products and services, The Timken Company announced today that it has acquired the assets of SES Technical Group, a division of SES, LLC. Terms were not disclosed.
The SES Technical Group, located in Richfield, Ohio, specializes in vibration analysis, infrared thermography, continuous monitoring systems, wear particle analysis, and 24-hour emergency service. The acquisition of the SES Technical Group will add approximately $2.5 million in revenue to Timken Industrial Services.
"The associates of the SES Technical Group bring new capabilities to Timken that will allow us to build on our heritage of working with customers," said Mike Arnold, president - Industrial Group. "The addition of the SES Technical Group's service offerings expands our ability to grow beyond bearings and deliver innovative solutions to our customers."
"We are extremely pleased about the strategic fit and growth prospects of the SES Technical Group now that it has become part of Timken," said Jim Boughton, CEO, SES, LLC. "For years, SES has serviced The Timken Company as a customer, and we have always had a great respect for the capabilities and people of Timken. This is a very positive move for the associates of the Technical Group."
In conjunction with the acquisition, Timken has announced that Matt Schleich has been named general manager - Reliability Services. Matt will have operational and strategic leadership for this business.
Timken Industrial Services works closely with industrial end users, original equipment manufacturers and distributors globally to offer services such as bearing repair, bearing reclamation, component repair, on-site training, mill maintenance, diagnostic services, and now, predictive maintenance services.
The assets of SES Technical Group were acquired by Timken Industrial Services, LLC, a subsidiary of The Timken Company, and will become part of the Timken Industrial Services group. SES, LLC, a supplier of equipment and services for the metals and related industries, will continue to separately operate its other two divisions in Alliance, Ohio.
The Timken Company (NYSE: TKR, www.timken.com) is a leading global manufacturer of highly engineered bearings and alloy steels and a provider of related products and services with operations in 29 countries. The company recorded 2003 sales of $3.8 billion and employed approximately 26,000 at year-end.
For Additional Information: Jason Saragian, Public Relations Manager,
(330) 471-3514, or visit http://www.timken.com/media , Investor Contact, Kevin
R. Beck, Manager - Investor Relations, (330) 471-7181
SOURCE The Timken Company