CANTON, Ohio, Aug. 30 /PRNewswire-FirstCall/ -- The Timken Company (NYSE: TKR) has been added to the Standard & Poor's MidCap 400 Index, effective with the close of trading on Monday, August 29.
Timken, previously listed on the S&P SmallCap 600 Index, has been elevated to the MidCap list, which is comprised of 400 U.S. companies selected based upon mid-range market capitalization, liquidity and industry representation.
"This action by Standard & Poor's recognizes that the initiatives we have undertaken to differentiate ourselves in the marketplace and improve our performance are enhancing value for customers and shareholders," said Glenn A. Eisenberg, Timken's executive vice president - finance and administration. "In addition, we're pleased that selection to the S&P MidCap 400 will increase awareness of the company, its accomplishm
ents and strategic objectives."
Standard & Poor's (http://www.standardandpoors.com), part of the McGraw- Hill Companies, provides independent credit ratings, indices, risk evaluation, investment research, data and valuations.
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 $4.5 billion in 2004 and 26,000 employees, Timken is Where You Turn™ for better performance.
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SOURCE The Timken Company