Timken Completes Acquisition of Belts Business, Further Expanding Its Power Transmission Offering

The Timken Company Logo"We are excited to bring the belts business into The Timken Company. Belts are an integral part of our customers' power transmission systems and Carlstar has a long history of leadership in industrial belt manufacturing, technology and quality," said Richard G. Kyle, Timken president and chief executive officer. "Our work leading up to closing has only reinforced that we have acquired a strong business with a talented workforce."

The company expects the transaction to be accretive over the balance of 2015. For the 12 months ending June 30, 2015, Carlstar Belt sales were approximately $140 million.

The belts business further diversifies the company's portfolio beyond engineered bearings, bringing customers an expanded offering of premium mechanical power transmission products and services. In addition to belts, the Timken power transmission portfolio includes gearboxes, housed unit bearings, chain, couplings, lubrication systems and a variety of industrial services, which are marketed under well-known industrial brands including Timken®, Philadelphia Gear®, Drives® and Interlube.

"Our businesses are highly complementary, with Timken serving many of the same end-markets and customers," said John Vassilaros, who will continue to lead the belt business for Timken. "Our customers and our employees view the transaction positively, and we are pleased to be joining an industrial leader that will invest in our business and shares our passion for power transmission products."

Carlstar Belts, headquartered in Springfield, Mo., has approximately 750 employees and two U.S. manufacturing facilities. The product portfolio features more than 20,000 parts engineered for demanding applications and includes wrap molded, raw edge, v-ribbed and synchronous belt designs.

http://news.timken.com/index.php?s=12504&item=136905

eBike drive system for eFlow

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The result of an OEM cooperation with individual Continental eBike drive system has been presented at the 28th Taipei Cycle Show end of March 2015. For the bicycle manufacturer eFlow with its European headquarter in Fürth, Germany (close to Nuremburg), its patented seat tube battery of the eBike model CM2 … Continue reading

Timken Awards Scholarships Valued at $540,000 to 17 Children of Employees Around the World

THE TIMKEN COMPANY LOGONORTH CANTON, Ohio, March 16, 2015 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com) today awarded scholarships to 17 sons and daughters of Timken associates in 11 locations around the world. The Timken Company Charitable and Educational Fund, Inc. funds the scholarships, with a total value of up to $540,000 over four years. The program has awarded more than $21 million in scholarships since its founding in 1958.

Chairman John M. Timken, Jr., hosted a recognition event at World Headquarters in North Canton, Ohio, involving students and their parents. Local scholarship finalists attended the event in person, while other finalists and their parents joined by a global webcast. "As we continue our company's long-standing tradition of promoting education and know-how for our associates and their families, it's an honor to invest in such outstanding students and support them in pursuing their dreams," Timken said. "The 2015 Timken Global Scholars join an elite group, and today we recognize our newest scholars for their impressive academic achievements, extracurricular activities and community commitment."

The $35,000 Henry Timken Scholar Award, which recognizes the top-ranked applicant, is renewable for up to three additional years for a total of $140,000. This year's Henry Timken Scholar is Bogdan Konnerth, the son of Octavian Konnerth, Timken service engineering manager based in Ploiesti, Romania. Bogdan, a graduating senior at Ion Luca Caragiale National College in Ploiesti, plans to study aerospace engineering at the University of Liverpool.

The $25,000 Jack Timken Scholar Award was presented to Mianna Schut, the daughter of Jeffrey Schut, principal inventory planner at World Headquarters. This new award, recognizing the dedicated service of Ward J. Timken, who retired last year from The Timken Company's Board of Directors, is renewable for up to three additional years for a total of $100,000. After graduation from GlenOak High School in Canton, Ohio, Mianna plans to study nursing at Walsh University.

Five students received $10,000 scholarships, renewable for up to three additional years for a total value of $40,000 each.

  • Dan Alexandru Constantin, the son of Aurelian Constantin, senior process design engineer in Ploiesti. A senior at the National College Nikita Stanescu in Ploiesti, Dan plans to study IT engineering at Polytechnic University of Bucharest.
  • Samuel Lanier, the son of Tracy Lanier, analyst at the company's  Lincolnton plant in North Carolina. After graduating from Lincolnton High School, Samuel plans to study material sciences and engineering at North Carolina State University.
  • Shefali Roy, the daughter of Kamlesh Roy, senior line engineer at the company's facility in Jamshedpur, India. A senior at Hill Top School in Jamshedpur, Shefali plans to study science at the University of Delhi.
  • Ryan Springer, the son of Thomas Springer, program manager at World Headquarters. A graduating senior at Hoover High School, Ryan plans to study engineering or computer science at The Ohio State University.
  • Zoe Yu, the daughter of Zai Zhang, manufacturing technician at the plant in Lebanon, N.H. The senior at Hanover High School in Hanover, N.H., plans to study engineering at Princeton University.

In addition, 10 individuals received $10,000 scholarships:

  • Shreyas Chaudhari, the son of Rahul Chaudhari, manager of manufacturing technology at World Headquarters. A graduating senior at Hoover High School in North Canton, Shreyas plans to study electrical/computer engineering at Carnegie Mellon University.
  • Courtney DeVos, the daughter of Robert DeVos, technical sales representative in Toronto, Canada. When she leaves Waterloo-Oxford District Secondary School in Baden, Ontario, Courtney plans to study neuroscience at Western University in London, Ontario.
  • Kristen Dix, the daughter of John Dix, a Timken retiree in the Detroit area. A graduating senior at Troy High School in Troy, Mich., Kristen plans to study mechanical engineering at the University of Michigan.
  • Maisie Fisher, the daughter of Frank Fisher, electrical technician at the company's Tyger River plant in South Carolina. A graduating senior at Union County High School in Union, S.C., Maisie plans to study biology and Spanish at Presbyterian College in Clinton, S.C.
  • Andrei-Alexandru Ichim, the son of Adrian Ichim, senior programmer in Ploiesti. A graduating senior at Mihai Viteazul National College in Ploiesti, Romania, Andrei-Alexandru plans to study medical science at a top university in the United Kingdom.
  • Danish Khan, the son of Abdul Kalim, senior line engineer in Jamshedpur. A graduating senior at Loyola School in Jamshedpur, Danish plans to study mechanical engineering at Birla Institute of Technology & Science in Pilani, India.
  • Kamil Laprus, the son of Leszek Laprus, finishing production warehouse associate in Sosnowiec, Poland. A graduating senior at Stanislaw Staszic High School No. 4 , Kamil plans to study physics at Harvard University.   
  • Dorota Sacha, the daughter of Wojciech Sacha, market development specialist based in Colmar, France. A graduating senior at Lycee Koeberle in Selestat, France, Dorota plans to study languages at Strasbourg University.
  • Yu'Ang Song, the son of Xiaowei Xie, supply chain manager in Wuxi, China. A senior at Jiangsu Tianyi High School in Nanjing, China, Yu'Ang plans to study biological sciences at Tsinghua University.
  • Jiaqi Zhang, the daughter of Zhusheng Zhang, supply chain manager in Wuxi. A graduating senior at Wuxi Big Bridge Academy, Jiaqi plans to study literature and applied mathematics at New York University.

For more information on the 2015 scholarship winners, visit www.timken.com/scholarship.

 

NTN Develops High Load Capacity Cylindrical Roller Bearings with Rolling Element Separator

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[World's highest level of load capacity and high-speed rotating performance, as well as longer operating life!]   NTN Corporation (hereafter, NTN) has developed the High Load Capacity Cylindrical Roller Bearings that takes both load capacity and high-speed rotating performance to new levels. Cylindrical roller bearings have a greater load capacity … Continue reading

The Timken Company Announces Plan To Separate Its Businesses Into Two Independent Publicly Traded Companies

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The Timken Company Announces Plan To Separate Its Businesses Into Two Independent Publicly Traded Companies. Plan to create two strong stand-alone companies via tax-free spinoff of Timken steel business; expected completion within 12 months. — Ward J. Timken, Jr., to serve as chairman and CEO of new $1.7 billion* revenue … Continue reading

NSK Launches iPad Tech Calculation Service

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Improved Customer Service and Sales Efficiency with Smart Device-Compatible Tech Calculation Service Tokyo, Japan, September 6, 2013 – NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) today announced that it has made NAVI-FOCUS―a program for instantaneously calculating bearing life and torque―compatible for use on the iPad and … Continue reading

ContiTech to Present the CONTI® DRIVE SYSTEM at Eurobike

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ContiTech will be presenting the CONTI® DRIVE System at booth 102 in hall B1 of Eurobike 2013 in Friedrichshafen from August 28 to 31. Developed in collaboration with Benchmark Drives, this drive technology employs a timing belt in place of the conventional chain on bicycles, pedelecs and e-bikes. For short … Continue reading

Prista Oil buys Chevron Czech Republic

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Bulgaria’s motor oil and lubricant producer Prista Oil has acquired Chevron Czech Republic for an undisclosed amount. The deal is part of the company’s strategy for expansion into Central and Eastern Europe, Prista Oil said. The Czech company has distributed the US giant’s motor oils since 1998. Among its key … Continue reading

NSK Develops Rolling Bearing Injected with World’s First Lubricant Grease derived from 100% food-grade ingredients

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NSK Ltd. (NSK; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) today announced that it has developed a lubricant grease made from 100% food-grade ingredients, the first of its kind in the world. The grease is registered as an NSF*1 category H3*2 lubricant. The grease is injected in rolling bearings … Continue reading

Plastic rod ends and bearings from Igus are significantly lighter than steel alternatives

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Igus produces a complete range of plastic self-aligning rod ends, spherical bearings and thrust bearings claimed to be 80 per cent lighter than steel alternatives. All Igus bearings including Igubal are lifetime tested through millions of vigorous cycles in a variety of environmental conditions. The Igubal spherical bearing range comprises … Continue reading

JTEKT CORPORATION fined by Canadian court for violation

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On July 12, 2013 was ordered by the Quebec Superior Court of Justice to pay a fine of CA $ 5 million for violation of the Canadian Competition Act in connection with past sales transactions * of automotive wheel hub unit bearings. JTEKT has conducted the internal investigations in connection … Continue reading

Kaman Signs Agreement to Acquire Ohio Gear & Transmission

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Kaman Corporation (NYSE:KAMN) today announced that its Distribution Segment (Kaman) has signed a definitive agreement to acquire substantially all the assets of Ohio Gear & Transmission of Eastlake, Ohio. The transaction is expected to close by the end of July. Ohio Gear & Transmission will become part of Kaman’s Distribution … Continue reading

Minebea won the Bosch Global Supplier Award for the third time in a row

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The Bosch group presents the Bosch Global Supplier Award every 2 years to its supplier companies that have manufactured and supplied products or services particularly well. This is the 13th time the Bosch group honors its suppliers and the award was given to 38 suppliers out of 9 countries. Minebea … Continue reading

SKF Expands Machine Tool Spindle Services

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SKF capabilities to repair, rebuild, and/or upgrade machine tool spindles have expanded with dedicated in-house spindle service facilities and engineering support equipped to handle virtually any spindle brand and type. All spindle repair, rebuild, and upgrade services are executed in fully outfitted, state-of-the-art machine shops in Highland Heights, Ohio, and … Continue reading

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