Timken Secures Contract for U.S. Navy Ships
The Timken Company has a received a multi-year contract from the U.S. Department of Defense to provide engineering and supply Philadelphia Gear main reduction gears (MRGs) for the Navy's next generation of Arleigh Burke DDG 51 class ships. The fixed-price contract includes options which, if exercised, could bring the cumulative value of the contract to more than $1 billion over its life.
"We've worked alongside the U.S. Navy for many decades and are proud to continue supplying our engineering expertise and Philadelphia Gear products and services for this important class of multi-mission ships," said Carl D. Rapp, vice president of the Power Systems group for Timken. "Philadelphia Gear won the contract to supply MRGs for the re-start of the DDG program in 2010 and, through the years, we have strived to deliver a quality product, on-time, and provide fleet support globally wherever the Navy serves our nation." More than 60 DDGs are in service today.
"As a result of our work with the Navy, our teams are prepared to meet the challenge of building reliable propulsion drives to support the demanding mission requirements of the DDG class for years to come," Rapp said. While no specific quantities were provided in the contract issued by the Department of Defense, Rapp anticipates that Timken will provide Philadelphia Gear MRGs for new DDG ships over roughly the next decade.
The Timken Company acquired the assets of Philadelphia Gear Corp., a recognized leader in high-performance gear drives, components and related services, in 2011. The company expects that sales under this contract would not begin until 2017, with total sales ultimately dependent upon the number and timing of options exercised by U.S. Navy officials.
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|The Timken Company|