CANTON, Ohio--(BUSINESS WIRE)--June 20, 2007--The Timken Company (NYSE:TKR) announced that its manufacturing facility in Wuxi, China, received a 2006 Excellent Supplier award from Volkswagen Transmission Shanghai Co. Ltd. The Timken plant was one of only two suppliers to win the award. Timken has become the sole supplier of needle roller bearings to Volkswagen Transmission.
The Wuxi plant began working with Volkswagen Transmission in 2003. Timken's business with the Shanghai venture has grown rapidly, and annual sales more than doubled between 2005 and 2006.
"From the beginning, Timken has been dedicated to serving Volkswagen globally, including in growth markets like China," said Kevin Raketich, general manager of Timken's Asian automotive business. "Timken engineering, sales and manufacturing teams are positioned throughout the world to meet the needs of our global customers wherever they operate."
In addition to its relationship with Volkswagen Transmission, Timken also supplies Germany-based Volkswagen AG with products that include needle and tapered bearings for transmissions and needle bearings for finger followers, which are engine valve train components.
During the early days of the relationship in Shanghai, Volkswagen Transmission requested assistance in reducing bearing noise caused by another supplier's product, and Timken engineers helped formulate a solution. This attention to service, which improved Volkswagen's system performance, is a fundamental part of how Timken serves customers' local operations. Timken holds annual evaluations at the Wuxi plant to hear Volkswagen Transmission's suggestions regarding product and service improvements. The plant also takes an active part in all customers' quality improvement programs.
Volkswagen Transmission Shanghai is a joint venture between Volkswagen AG and two of China's leading car manufacturers, Shanghai Automotive Industry Corporation and First Auto Works. The venture produces transmissions for numerous well-known Volkswagen models in China, including Bora, Golf, Polo and Octavia.
The Timken Company first brought its advanced technology and innovation to China in 1992. Timken established its Asia Pacific regional headquarters in Shanghai and has developed a network of sales offices for the greater China region to serve customers locally and internationally. Offices have been set up in Shanghai, Beijing, Shenyang, Wuxi, Chengdu, Hong Kong and Taipei.
The company has invested in large-scale manufacturing sites in Yantai, Chengdu and three sites in Wuxi, and has established logistics and industrial service centers to meet the needs of Chinese customers. Timken also has opened a specialist engineering training facility for both its own engineers in China, as well as to share knowledge and technology with Chinese customers. With nearly 4,000 employees in China, Timken is committed to providing expertise in friction management and power transmission.
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
Manager - Trade Media Relations
Telephone: 330-471-7948
Facsimile: 330-471-4118
gloria.irwin@timken.com
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Investor Contact: Steve Tschiegg
Manager - Investor Relations
Telephone: 330-471-7446
Facsimile: 330-471-2797
steve.tschiegg@timken.com
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For Additional Information:
www.timken.com/media
www.timken.com/investors
SOURCE: The Timken Company