CANTON, Ohio--(BUSINESS WIRE)--Feb. 14, 2007--The Timken Company (NYSE:TKR) announced today that it has extended its agreement with Joe Gibbs Racing as an official technical partner of the NASCAR racing organization. Timken will provide product development and technical engineering across Joe Gibbs Racing's multiple team operations, including the Nextel Cup Series where the "Car of Tomorrow" race car design will debut in March.
For the last three years, Timken has worked collaboratively with the engineering team at Joe Gibbs Racing to develop and test technologies that improve the car's powertrain and driveline performance, delivering longer life, improved fuel economy and higher horsepower availability.
This year the Car of Tomorrow vehicle, a NASCAR design initiative to improve driver safety, performance, competition and cost-management for the teams, has already had significant engineering implications for all competitors in the Nextel Cup. As a result, Joe Gibbs Racing has turned to Timken for help in developing technologies that will drive performance while still conforming to the new NASCAR specifications.
"With the Car of Tomorrow design, NASCAR has given us defined parameters within which we can work," said David Holden, research and development engineer at Joe Gibbs Racing. "That brings more parity to the sport, but it also poses tremendous design challenges for us in terms of loads, stiffness and weight. Fortunately, working with Timken engineers, we are able to accommodate some of those changing conditions and still field very competitive cars."
Products like Timken's engineered surfaces coatings, alloy steel from Timken operations in Canton and Timken(R) RacePac(TM), an integrated hub and bearing assembly specially designed for NASCAR teams, demonstrate Timken's ongoing commitment to quality, safety and reliability to meet the high-performance demands of the motorsports industry. In addition, the company will continue to provide other innovative bearing and steel products to Joe Gibbs Racing that will be used throughout the car, from the suspension and steering systems to the engine and transmission.
"We have many partners, but Timken's technical support contributes directly to our ability to win races," said J.D. Gibbs, president of the race group. "As the inherent challenges of the Car of Tomorrow materialize, we expect to lean heavily on Timken and its technical expertise for solutions."
"We value our relationship with Joe Gibbs Racing because it allows us to take what we have learned at the racetrack under high speed and tough conditions and leverage that knowledge into new solutions for all of our customers' benefit," said Alastair R. Deane, Timken senior vice president - technology. "Our involvement in the sport translates into the creation of real value for our automotive, industrial and steel customers as we all have mutual challenges related to products that handle heat, speed and wear."
About Joe Gibbs Racing
Joe Gibbs Racing, one of the most successful organizations in NASCAR with three Nextel Cup championships to their credit since 2000, fields teams in the Nextel Cup, Busch Series as well as successful diversity and driver development programs. The Huntersville, N.C.-based organization is owned by legendary NFL Hall of Fame coach Joe Gibbs.
About Team Timken Motorsports
For innovative, high-performance racing components and industry-leading technical support, the world of motorsports turns to Timken. Superior engineering and product durability make Timken(R) bearings and steel a trusted choice of the most popular touring series, racing professionals and enthusiasts at all levels. More races are won with Timken products.
In North America, The Timken Company has technical affiliations with Indy Racing League (IRL) teams, National Association for Stock Car Racing (NASCAR) and one of its most successful teams, Joe Gibbs Racing. The company is also a proud sponsor of Team Epsilon Euskadi of the Renault World Series in Europe, Team Green Thunder in the Formula Off Road Series in Iceland and several race teams in Australia, South Africa and Latin America.
About The Timken Company
The Timken Company (NYSE: TKR, www.timken.com) keeps the world turning, with innovative friction management and power transmission products and services, enabling our customers to perform faster and more efficiently. With sales of $5.0 billion in 2006, operations in 26 countries and approximately 25,000 employees, Timken is Where You Turn™ for better performance.
CONTACT: The Timken Company
Media Contact:
Gloria Irwin, 330-471-7948
Manager - Trade Media Relations
Facsimile: 330-471-7032
gloria.irwin@timken.com
or
Investor Contact:
Steve Tschiegg, 330-471-7446
Manager - Investor Relations
Facsimile: 330-471-2797
steve.tschiegg@timken.com
or
For Additional Information:
www.timken.com/media
www.timken.com/investors
SOURCE: The Timken Company