NORTH CANTON, Ohio, March 9, 2015 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com) has been recognized for the fifth time by the Ethisphere® Institute as being among the world's most ethical companies.
Timken is among more than 130 organizations selected as a 2015 World's Most Ethical Company®. The designation recognizes organizations that foster a culture of ethics and transparency at every level of the company.
Ethics and integrity has been at the company's core since its founding. Being a five-time honoree underscores the company's ongoing commitment to conducting business according to the highest ethical standards and practices.
"Our core value of ethics and integrity stands as a cornerstone at The Timken Company and it speaks to our commitment to always do what's right," said Richard G. Kyle, Timken president and CEO. "Integrity guides every action we take as we put our products, processes and know-how to work in solving our customers' most complex problems."
The Ethisphere Institute developed a framework that assesses an organization's performance in an objective, consistent and standardized way. Scores are generated in five categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%).
"Earning this recognition involves the collective action of a global workforce from the top down. We congratulate everyone at Timken for this extraordinary achievement," said Ethisphere Chief Executive Officer Timothy Erblich.
About the Ethisphere Institute
The Ethisphere Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World's Most Ethical Companies recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance and showcases trends and best practices in ethics with the publication of Ethisphere Magazine and The World's Most Ethical Companies Executive Briefing. Ethisphere is also the leading provider of independent verification of corporate ethics and compliance programs. More information can be found at: http://ethisphere.com.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) engineers, manufactures and markets bearings, transmissions, motors, gearboxes, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company's growing product and services portfolio features many strong industrial brands including Timken®, Fafnir®, Philadelphia Gear®, Interlube® and Drives®. Known for its quality products and collaborative technical sales model, Timken posted $3.1 billion in sales in 2014. With approximately 16,000 people operating from 28 countries, Timken makes the world more productive and keeps industry in motion.
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Media Contact: |
Investor Contact: |
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Gloria Irwin |
Steve Tschiegg |
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Communications Manager |
Director - Capital Markets & Investor Relations |
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4500 Mount Pleasant St. N.W. |
4500 Mount Pleasant St. N.W. |
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North Canton, OH 44760 U.S.A. |
North Canton, OH 44760 U.S.A. |
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Telephone: 234.262.3514 |
Telephone: 234.262.7446 |
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SOURCE The Timken Company