NORTH CANTON, Ohio, Dec. 7, 2021 /PRNewswire/ -- The Timken Company (NYSE: TKR), a global industrial leader in engineered bearings and power transmission products, is experiencing strong growth in its linear motion product line, with 2021 sales expected to increase by more than 20 percent compared to 2020. With the acquisition of Rollon in 2018, Timken diversified its power transmission portfolio with engineered linear motion products. As a leader in highly customized linear motion guides, telescopic rails, actuators and systems, Rollon has expanded growth opportunities in attractive market sectors such as robotics and automation.
Timken expects that secular trends and targeted initiatives will continue to drive strong organic sales growth in linear motion products, with an estimated double-digit compound annual growth rate (CAGR) through 2025i. Rollon's robust customization capabilities, strong market mix, new applications and increasing demand are driving this outgrowth, particularly in process industries like the logistics, automation, medical, food and beverage, and packaging segments.
"The acquisition of Rollon enabled our successful entry into the linear motion market sector and its unique offering has led to big wins – for Timken and the industry partners we serve through these products," said Hans Landin, Timken group vice president. "We're providing proven product innovation and reliability across industries and advancing as a technical leader in the power transmission space."
Sixteen of the world's 20 largest warehouse automation equipment manufacturers integrate a wide range of Rollon solutions into their systems and the company has significantly increased annual sales to customers in the logistics, automation and medical industries, with products like:
- Customized modular telescopic units and actuators used in equipment that moves totes in large warehousing operations.
- Telescopic compact rails that help medical personnel move patients in and out of beds in hospital critical care units.
- Seated traction systems on exercise bicycles used for patient rehabilitation.
- Drawer extraction systems in nuclear medicine machines.
Rollon has emerged as the brand of choice for these and other linear motion use cases because of its technical problem-solving capabilities, superior quality and reliability and customized solutions to help ensure safe and reliable operations. Timken's recent acquisition of Intelligent Machine Solutions (iMS), a manufacturer of industrial robotics solutions, is expected to further support growth, as its products bolster Rollon's linear motion capabilities with a specific focus on factory automation.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $3.5 billion in sales in 2020 and employs more than 17,000 people globally, operating from 42 countries. Timken is recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies® by Ethisphere, and America's Best Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.
Certain statements in this release (including statements regarding the company's plans, estimates and expectations) that are not historical in nature are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, the statements regarding the company's expectations regarding the company's future financial performance, product line growth, customer demand and business plans are forward-looking. The company cautions that actual results may differ materially from those projected or implied in forward-looking statements due to a variety of important factors, including: the company's ability to respond to the changes in its end markets that could affect demand for the company's products or services; unanticipated changes in business relationships with customers or their purchases from the company; changes in the financial health of the company's customers, which may have an impact on the company's revenues, earnings and impairment charges; weakness in global or regional economic conditions and capital markets; logistical issues associated with port closures or congestion, delays or increased costs; the ability to achieve satisfactory operating results in the integration of acquired companies, including realizing any accretion, synergies, and expected cashflow generation within expected timeframes or at all; the impact on operations of general economic conditions; fluctuations in customer demand; negative impacts to the company's business, results of operations, financial position or liquidity as a result of COVID-19 or other epidemics and associated governmental measures such as restrictions on travel and manufacturing operations; and the company's ability to complete and achieve the benefits of announced plans, programs, initiatives, acquisitions and capital investments. Additional factors are discussed in the company's filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the year ended Dec. 31, 2020, quarterly reports on Form 10-Q and current reports on Form 8-K. Except as required by the federal securities laws, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
i Based on company estimates.
SOURCE The Timken Company