CANTON, Ohio, Nov. 2, 2010 /PRNewswire/ -- NOTE: The Timken Company is issuing this news on behalf of the World Bearing Association (WBA): In the last two decades, counterfeiting in general has grown by 10,000 percent, globally. While there has been much reporting about consumers being taken advantage of by counterfeits in music, film, home electronics and designer clothing, a far greater risk lies in industrial counterfeiting of items such as tires, seals and bearings. All these products are safety-critical and fake versions pose a real threat.
As a result, the World Bearing Association (WBA) has launched an awareness campaign to inform about safety hazards arising from counterfeit bearings. "Our initiative is aimed at sensitizing the public on the dangers associated with counterfeits," says James W. Griffith, WBA president and president and chief executive officer of The Timken Company. "The WBA is thus intensifying its anti-counterfeiting initiatives – that means information for customers on the one hand and consistent prosecution of offenders through the competent authorities on the other."
The WBA anti-counterfeiting information campaign will reach out to various audiences over the next three years through e-mails, Web banners, social media and the campaign site, www.stopfakebearings.com. At www.stopfakebearings.com, interested consumers can learn more about counterfeiting and what branded-bearing manufacturers are doing to stop it.
"Everyone who buys, sells, mounts and uses bearings can be adversely affected by counterfeits, so it is in their best interest to be on the lookout for them," says Griffith. "Manufacturers of products containing industrial bearings may be held responsible for damages. We want purchasers to realize that counterfeiting is a widespread and serious problem."
Counterfeiting also violates intellectual property, such as patents and trademarks. Because counterfeits look like and are marketed like genuine, premium-brand products, it usually takes a trained expert to identify them. The competent authorities and the concerned brand manufacturer may be contacted.
Premium manufacturers invest continuously to develop their technology and improve the quality and value of their products. "When counterfeiters copy the look of industrial bearings – and apply respected brand names that aren't theirs – they are infringing upon the rights of the manufacturer," concludes Griffith. Visit www.stopfakebearings.com to learn more.
About the World Bearing Association
WBA is a non-profit and unincorporated industrial association. It was founded in 2006 by three regional bearing associations: the American Bearing Manufacturers' Association (ABMA), the Federation of European Bearing Manufacturers' Association (FEBMA), and the Japan Bearing Industrial Association (JBIA). WBA promotes the common interests of the world bearing industry, such as open economic engagement, sustainable development and the protection of legal rights of companies.
WBA has created an Anti-Counterfeiting Committee. This Committee within the WBA is dedicated to addressing the counterfeiting of premium brand bearings and to assisting the competent authorities in eradicating it. The WBA, and each bearing company, take action and arrange informational campaigns, such as this, to raise awareness about counterfeiting.
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 its customers' machinery to perform more efficiently and reliably. With sales of $3.1 billion in 2009, operations in 27 countries/territories and approximately 17,000 employees, Timken is Where You Turn® for better performance. Timken is a member of the American Bearing Manufacturers' Association and participates in the World Bearing Association Anti-Counterfeiting Committee.
World Bearing Association
Primary Contact: Scott Lynch, President, American Bearing Manufacturers’ Association (ABMA), 703.963.7568, info@stopfakebearings.com
Please visit the anti-counterfeiting campaign site: www.stopfakebearings.com
The Timken Company
Media Contact: Lorrie Paul Crum, Manager – Global Media and Strategic Communications, Telephone: (330) 471-3514 , Mobile: (330) 224-5021, lorrie.crum@timken.com
SOURCE World Bearing Association