CANTON, Ohio, March 19, 2012 /PRNewswire/ -- The Timken Company (NYSE: TKR) has been recognized as one of the World's Most Ethical Companies for 2012 by the Ethisphere Institute, an international organization focused on the advancement of best practices in business ethics.
This is the second year Timken has been honored by the Ethisphere Institute for promoting the highest ethical standards in business. Even with a record number of nominations for the award, Timken was named among the 145 most ethical companies globally through consistent demonstration of integrity in business practices and initiatives.
"The honor of, once again, receiving this award must be attributed to our associates around the world who share a strong commitment to ethics and integrity," said Chairman of the Board Ward J. "Tim" Timken, Jr. "It's one of our core values as a company, and our associates' dedication to upholding it is what makes our success possible. Whether we're interacting with shareholders, customers, communities or one another, we share a common understanding that we'll always do the right thing."
Ethisphere's 2012 list of winners features companies in nearly 50 industries. To determine the winners, Ethisphere reviews codes of conduct, litigation and regulatory infraction histories; evaluates investment in innovation and sustainable business practices; examines activities designed to improve corporate citizenship; and studies nominations from senior executives, industry peers, suppliers and customers.
"A strong ethical foundation is a competitive advantage, and Timken recognizes the important role corporate responsibility plays in improving its bottom line," said Alex Brigham, executive director of the Ethisphere Institute. "As more and more organizations strive for this honor each year, The Timken Company's inclusion as a World's Most Ethical Company for 2012 demonstrates its industry-leading commitment to ethics and dedication to integrity."
For more information on Ethisphere's list of 2012 World's Most Ethical Companies, visit www.ethisphere.com/wme.
About the Ethisphere Institute
The research-based Ethisphere® Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. Ethisphere Magazine, which publishes the globally recognized World's Most Ethical Companies Ranking™, is the quarterly publication of the Institute. Ethisphere provides the only third-party verifications of compliance programs and ethical cultures that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification™. The Institute's premier membership group, the Business Ethics Leadership Alliance™, is a business ethics forum that includes more than 100 leading corporations, universities and institutions that collectively leverage their experience, expertise and innovative ways to address emerging compliance challenges. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.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 that help machinery perform more efficiently and reliably. With sales of $5.2 billion in 2011 and approximately 21,000 people operating from locations in 30 countries, Timken is Where You Turn® for better performance.
SOURCE The Timken Company