CANTON, Ohio, Jun 26, 2007 (BUSINESS WIRE) -- The Timken Company (NYSE:TKR) announced that an end user, Smith Technologies, has been recognized for setting three world records with a two-cone rock bit made from Timken(R) steel. In February, Smith Technologies' two-cone bit was used in Qatar to drill the longest single distance by a roller cone bit - 24,591 feet, or 4.7 miles (7.5 kilometers).
Made of two specialized grades of Timken(R) alloy steel forging bar, the rock bit used for a gas well in Qatar set three individual records: longest distance drilled with a roller cone bit, longest distance drilled with a milled tooth bit and longest distance drilled by a two-cone bit.
Smith Technologies, based in Houston, is a leading supplier of drill bits that incorporate 21st century engineering and materials technology to offer outstanding performance in a wide variety of drilling applications. The two-cone design offers performance advantages relative to the widely accepted three-cone rock bit, resulting in greater rig efficiency and driving down costs for end users.
"For our finished products to be as successful as we want them to be, we needed a steel company with a history of proven performance that would be a reliable, high-quality supplier and provide technical support for our growth," said Gay Norris, purchasing manager for Smith Bits, an operating unit of Smith Technologies. "For more than a decade, Timken has been the answer to our needs, and the recent record-setting depths are proof of our combined success."
Timken steel is provided to Smith Technologies through Ryerson Incorporated, a Timken authorized distributor in California. Ryerson manages inventory for California Amforge in Azusa, Calif. California Amforge forges the bit components for Smith Technologies.
"This is so rewarding because it highlights our expertise in maximizing performance for our customers," said Troy Powell, account manager for Timken's steel business. "You may not see Timken's name in the record book for it, but we take great pride in knowing that our high-quality alloy steel was a good combination with the design to make the bit so successful."
About Smith Technologies
Smith Technologies is a division of Smith International, Inc. and offers an array of products and services to the energy and manufacturing industries. For more information, visit www.smithbits.com.
Smith International, Inc. (NYSE: SII), is a leading worldwide supplier of premium products and services to the oil and gas exploration and production industry, the petrochemical industry and other industrial markets. For more information, visit www.smith.com.
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.
SOURCE: The Timken Company
The Timken Company
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