CANTON, Ohio--(BUSINESS WIRE)--Jan. 16, 2008--The Timken Company (NYSE:TKR) announced today that it received a $2.4 million order in continued federal funding for ongoing projects related to improving the performance and affordability of the next-generation aerospace gas turbine engine. The new order focuses on development of advanced bearing materials to meet specific high-performance characteristics under the Versatile Affordable Advanced Turbine Engine (VAATE) program.
The VAATE program is a joint initiative involving the Department of Defense, the 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.
As part of ongoing development for the engine program, Timken will demonstrate how advanced bearing materials can survive hotter environments at higher speeds for longer periods of time. Such technology helps to improve engine performance, resulting in reductions in fuel consumption, emissions and operating costs.
"Timken's involvement in this long-term initiative reflects our technical expertise in creating advanced solutions for the challenges of next-generation engines," said J. Ron Menning, president of the company's aerospace, defense and position control business unit. "We continue to develop innovations that can improve the performance of aerospace engines and power-transmission systems, and those technological advances can be leveraged with broader commercial and defense applications."
Timken offers a comprehensive line of aerospace quality bearings, along with a select range of turbine engine components, transmissions and MRO services. Known for consistent, critical performance and backed by stringent quality standards, Timken aerospace products are found in aircraft engines, gearboxes, helicopter transmissions, auxiliary power units, landing wheels, airframes and instrumentation.
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: Jeff Dafler
Manager - Global Media &
Investor Contact: Steve Tschiegg
Manager - Investor Relations
For Additional Information:
SOURCE: The Timken Company