The Timken Company (NYSE: TKR), a global leader in engineered bearings and power transmission products, has acquired the assets of Aurora Bearing Company (Aurora). Aurora produces rod ends and spherical plain bearings, serving a variety of industries, including aerospace and defense, racing, off-highway equipment and packaging. By 2020, its sales are expected to reach approximately US$30 million.
Christopher A. Coughlin, Timken's executive vice president and group president, said: "Aurora has expanded our global leadership in the engineering bearing field by expanding its product range, which will help us serve the bearing field more comprehensively." Aurora The product line and market structure complement our product portfolio well. "
Since its establishment in 1971, Aurora has been a privately owned and operated company with approximately 220 employees. Its headquarters, manufacturing and R&D are located in Montgomery, Illinois.
This transaction advances Timken’s strategy, which focuses on improving its leadership in engineered bearings while distributing the company’s product portfolio to adjacent products and markets.
Other terms of the transaction were not disclosed.
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