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Timken Awarded $2.7 Million for Advanced Bearing Technology Development

CANTON, Ohio, May 4 /PRNewswire-FirstCall/ -- The Timken Company was awarded its second delivery order under an existing $20 million U.S. Air Force contract for hybrid bearing development. The new $2.69 million order focuses on the development of advanced engineered surfaces for bearings used in current and next generation gas turbine aircraft engines.


The order calls for Timken to develop special surface coatings that will extend bearing life by reducing friction and improving resistance to wear and corrosion under demanding engine operating conditions. The company will confirm enhanced performance characteristics through rigorous bearing testing. Timken is a recognized leader in engineered surface technology.


"Our involvement in this long-term development program reflects the strong reputation of our people and technical capabilities," said J. Ron Menning, vice president - aerospace and defense. "We work with customers around the world to bring friction management solutions to their toughest challenges. We're confident that we will bring value to this program to advance engine system technology that can be leveraged with broader military as well as commercial applications."


Last year Timken received its first order under the umbrella contract covering a total of $3.27 million for advanced bearing materials development and testing. The overall $20 million in federal funding is part of the Versatile Affordable Advanced Turbine Engine (VAATE) program phase 1, a joint initiative between the Department of Defense, Department of Energy, NASA and the U.S. aerospace industry. One of the program's goals is to increase the affordability of new turbine-propulsion technology over current designs.


After the initial stages of materials and surface development, Timken will pursue additional efforts under the general contract in modeling, testing, condition monitoring and integrated components to complete the program.


Timken supplies a wide variety of rolling bearings and related components to the Department of Defense and other government agencies, primarily for applications in flight hardware.

 

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.


Media Contact: Dwight E. Keeney, Communications Manager, (860) 626-2622,www.timken.com/media


Investor Contact: Kevin R. Beck, Manager - Investor Relations, (330) 471-7181

 

SOURCE The Timken Company