• TOPICS
    • Design
    • Manufacturing
    • Inspection
    • Heat Treating
    • Lubrication
    • Materials
    • The Gear Industry
    • Gears by Type
  • MAGAZINE
    • Current Issue
    • Departments
    • Archives
    • Subscribe
    • Advertise
  • NEWSLETTER
    • Subscribe
  • VIDEO
    • Gear Technology TV
      • Ask the Expert Live
      • Revolutions
    • Industry Videos
  • BLOGS
  • BUYER'S GUIDE
  • NEWS and EVENTS
    • Product News
    • Industry News
    • Events
  • ADVERTISING
    • Brand Awareness
      • Print: Display Advertising
      • Online: Web Banners & Keyword Banners
      • Online: Native Advertising (Sponsored Content)
      • E-mail: Custom, White Papers & Webinars
      • E-mail: Newsletter Sponsored Content (Native Advertising)
    • Response & Lead Generation
      • Online: Sponsored Content (Native Advertising)
      • E-mail: Newsletters
      • E-mail: Newsletter Sponsored Content (Native Advertising)
      • E-mail: Custom, White Papers & Webinars
      • Online: Buyers Guide
    • Print Advertising
      • Print: Display Advertising
      • Print: IMTS Showstoppers
      • Print: Buyers Guide
      • Print: Manufacturing sMart
      • Print: Specifications
    • Online Advertising
      • Online: Web Banners & Keyword Banners
      • Online: Native Advertising (Sponsored Content)
      • Online: Buyers Guide
      • Online: Specifications
    • E-mail Advertising
      • E-mail: E-Newsletters
      • E-mail: Newsletter Sponsored Content (Native Advertising)
      • E-mail: Custom, White Papers & Webinars
      • E-mail: Specifications
    • Special Promotions
      • Print: IMTS Showstoppers
      • Print: Buyers Guide
      • Print: Manufacturing sMart
  • CONTACT US
  • AGMA
    • Membership
    • Events
    • Education
    • Emerging Technology
    • AGMA Media
    • Standards
Subscribe
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » Timken Agrees to Purchase Philadelphia Gear

Timken Agrees to Purchase Philadelphia Gear

May 27, 2011

The Timken Company, located in Canton, Ohio, has announced plans to purchase Philadelphia Gear Corp. for $200 million. Based in King of Prussia, Pennsylvania, Philadelphia Gear provides gear drives and components to the industrial and military sectors. Timken makes bearings, assemblies and alloy steels for auto producers and other manufacturers.

The addition of Philadelphia Gear to Timken's Process Industries segment significantly expands the range of industrial services capabilities for both companies to offer their customers. The acquisition advances Timken's strategy to offer comprehensive services and solutions to end-users that enhance the performance and productivity of their mission-critical mechanical applications.

"Philadelphia Gear is an excellent fit with Timken," said Chris Coughlin, president of Timken's Process Industries segment. "Like Timken, it is a leader in industrial services providing highly engineered solutions and replacement components for mechanical power transmission equipment. It will strengthen our presence precisely in the areas we've targeted, with excellent prospects for profitable growth via extension to our customer base around the world."

Timken plans to combine Philadelphia Gear, which employs approximately 220, with its Industrial Services business to leverage the best capabilities of each organization across the global markets. Coughlin noted that Timken plans to expand the business with the existing management team. "The synergies in this combination are all about growth," he said.

Timken expects Philadelphia Gear to be accretive to earnings in its first full year and to generate income exceeding the cost of capital by 2014. The company plans to complete the acquisition through its Timken Gears & Services Inc. subsidiary by the third quarter of 2011, pending certain government and regulatory approvals.

 

Industry News
  • Related Articles

    Cloyes Gear Maintains Manufacturing Excellence with Arkansas Plant Purchase

    Gleason's Gear Solutions Forum to Include Over 40 Demonstrations on Products and Technologies

    Machine Tool Builders Expands its Offerings to the Gear Industry

Free Gear Technology Subscriptions
Subscribe
Free Gear Technology Subscriptions
Subscribe
FEATURED VIDEO
  • Liebherr pallet
    Liebherr Palletizing Cell
June 23, 2022
RECOMMENDED
  • LPC Carburizing: The Affordable Alternative to Gas Carburizing

    April 25, 2022
    Nitrex2.jpg
  • Hardness Testing Gears — Know Your Options for Best Results

    April 25, 2022
    Starrett1.jpg
  • Kapp Niles Examines Intelligent Rolling Grinding for E-mobility

    April 25, 2022
    Opening Image.jpg
  • Making Gear Grinding Transparent

    May 19, 2022
    Picture6.png
  • The Numbers Game

    May 19, 2022
    Toolx7-featured.jpg
  • Making Gear Grinding Transparent

    May 19, 2022
    Picture6.png
  • The Numbers Game

    May 19, 2022
    Toolx7-featured.jpg
  • LPC Carburizing: The Affordable Alternative to Gas Carburizing

    April 25, 2022
    Nitrex2.jpg
  • Subscribe
  • Advertise
  • Contribute
  • AGMA
Powered byAGMA
Copyright © 2022 Gear Technology
  • Privacy Policy
  • Contact