CANTON, Ohio, Dec. 1 /PRNewswire/ -- The Timken Company (NYSE: TKR) today announced that it is continuing to expand its strategic position in the aerospace aftermarket by acquiring the assets of Turbo Engines, Inc., a leading provider of aircraft engine overhaul and repair services. Terms of the acquisition were not disclosed.
"The addition of Turbo Engines represents a significant expansion in our ability to deliver enhanced value to the aerospace aftermarket through fully integrating a total service offering of critical products and services," said J. Ron Menning, Timken vice president - aerospace, consumer and super precision. "The combination of new engine overhaul capabilities with Timken's existing replacement parts and service operations opens up powerful opportunities to provide complete fleet support for our growing aviation customer base. We intend to expand our aerospace portfolio by making strategic investments that help us improve customers' performance."
Timken plans to continue the former Turbo Engines operations under existing management at the overhauler's current location in Tucson, Ariz., as part of Timken's aerospace aftermarket solutions business. The staff at the 42,000-square-foot Tucson facility consists of 35 people, primarily airframe and powerplant technical specialists.
A recipient of the "Certificate of Excellence" Gold Award for 2005 from the Federal Aviation Administration (FAA), Turbo Engines has earned a strong industry reputation for expert repair, overhaul and support services for a wide variety of aircraft engines, components and helicopter transmissions.
Among the engine platforms supported are the Pratt & Whitney PT6 and Twin Pac series, Honeywell T53 series engines, as well as Bell power transmission and drive train components and Goodrich fuel controls. Services include complete engine overhaul and accessory and part reconditioning, in addition to exchange programs and field support. Typical customers include commercial and military fleet operators, offshore drilling transport and emergency services.
The Timken aerospace aftermarket solutions unit is a leading supplier of comprehensive capabilities that span technology, development, engineering, manufacturing, repair and fleet support for the aviation industry. With principal facilities in Mesa, Ariz., and Los Alamitos, Calif., Timken continues to expand its in-house manufacturing and repair capabilities, while increasing the scope of its aircraft platform support.
About The Timken Company
The Timken Company (NYSE: TKR, www.timken.com) keeps the world turning, with innovative ways to make customers' products run smoother, faster and more efficiently. Timken's highly engineered bearings, alloy steels and related products and services turn up everywhere. With operations in 27 countries, sales of $5.2 billion in 2005 and 27,000 employees, Timken is Where You Turn™ for better performance.
CONTACT: Gloria Irwin, Manager - Trade Media Relations, Telephone +1-330-471-7948, Facsimile +1-330-471-4118, or gloria.irwin@timken.com , or Steve Tschiegg, Manager - Investor Relations, Telephone +1-330-471-7446, Facsimile +1-330-471-2797, or steve.tschiegg@timken.com