CANTON, Ohio: Jan. 13, 2009 — The Timken Company (NYSE: TKR) marked its fourth time on this year’s Forbes Platinum 400, the magazine’s 11th annual compilation of the “Best Big Companies,” released for the Jan. 13, 2009 issue of the magazine and published online at http://www.forbes.com/2008/12/22/best-big-companies-biz-cz_sd_bigcompanies08_1222land.html.
Standouts for the list were more difficult to spot this year than in the past, as a majority of public companies experienced slowing growth and negative stock returns by the end of 2008. Editors realized they could not rely on prior results as an indication of how companies might perform in the future, and decided it was more important to focus on financial strength, noting in the article, “This year, in particular, in our final selection process, we paid close attention to each company's debt-to-total-capital level.”
Forbes rated Timken’s financial condition as "strong," as Timken's balance sheet, sales and earnings growth were positive factors contributing to the company’s inclusion. “Timken is a financially conservative company with a strong balance sheet," said Glenn Eisenberg, Timken executive vice president of finance and administration. "We have sufficient liquidity and have maintained a balanced investment approach to grow and optimize our business for the long term.”
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 $5.2 billion in 2007, operations in 27 countries and approximately 25,000 employees, Timken is Where You Turn™ for better performance.
Source: The Timken Company
Media Contact: Lorrie Paul Crum
Manager - Global Media and Strategic Communications
Telephone: 330-471-3514
Facsimile: 330-471-4118
Investor Contact: Steve Tschiegg
Director - Capital Markets and Investor Relations
Telephone: 330-471-7446
Facsimile: 330-471-2797
steve.tschiegg@timken.com
For Additional Information:
www.timken.com/media