CANTON, Ohio: March 9, 2009 — The Timken Company (NYSE: TKR) has signed a long-term, multi-year agreement to supply wind turbine gearbox bearings for Nanjing High Speed Gear Manufacturing Co., Ltd. (NGC), a manufacturer of wind power, marine, construction, and industrial gear transmission equipment based in China.
Under the terms of the agreement, the company will supply tapered and cylindrical roller bearings for use in NGC’s wind power gearboxes. Revenues in the first phase of the agreement are expected to be worth an estimated US$30 million to Timken, with additional growth anticipated after 2010.
“This is another great success for Timken in the China wind energy market sector. NGC is a globally recognized brand and a leader in the industry,” said Mike Connors, president of Process Industries at Timken. “Our strategy is to work with leading companies in the industry, companies that compete on product performance, durability and reliability and that demand the highest level of expertise in friction management and power transmission from their suppliers.”
Timken supplies a broad range of friction-management and power-transmission solutions to the global wind-energy market including: high alloy steels; tapered, cylindrical, and spherical roller bearings; seals and lubrication; and in-depth technical support.
About The Timken Company
The Timken Company (NYSE: TKR, http://www.timken.com) keeps the world turning, with innovative friction management and power transmission products and services, enabling our customers' machinery to perform more efficiently and reliably. With sales of $5.7 billion in 2008, operations in 26 countries and approximately 25,000 employees, Timken is Where You Turn™ for better performance.
SOURCE: The Timken Company
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