Timken Company
| The Timken Company
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|---|---|
 |
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| legal form | Corporation |
| ISIN | US8873891043 |
| founding | 1899 |
| Seat | North Canton , United States |
| management | Richard G. Kyle |
| Number of employees | 15,000 |
| sales | 3,004,000,000 USD |
| Branch | Metal processing |
| Website | www.timken.com |
| As of December 31, 2017 | |
The Timken Company is a manufacturer of rolling bearings based in North Canton , Ohio . It was founded in 1899 by Henry Timken as "The Timken Roller Bearing Axle Company" in St. Louis . Timken had already received a patent for its case-hardened tapered roller bearing a year earlier . The Timken Company is a global company listed on the New York Stock Exchange. According to the business magazine Fortune, Timken is one of the 500 largest US companies.
Company history
The company's founder, Henry Timken, was born in Bremen and emigrated to the USA with his family in the mid-19th century. Henry Timken founded a carriage factory in St. Louis in 1855. He found that the frequent wheel or axle breakages were due to the technology of the time, a wooden axle in a wooden hub. Due to the high level of friction, more draft animals were required (which resulted in costs). Henry Timken and his brother-in-law Heinzelmann recognized that radial and axial forces acted on this bearing point. Therefore, they developed a bearing that could absorb both forces, the tapered roller bearing . The first publicity stunt was a visibly heavily loaded car that was pulled through St. Louis by just one mule . Henry won the subsequent animal cruelty trial because he was able to demonstrate the benefits of storage.
In 1901 the company headquarters was relocated to Canton to be closer to the production sites of the US steel and automotive industries . Timken began producing steel in 1916. This step was sheer distress. Because of the First World War, there was no steel for bearing production on the free market. Thanks to the deeper insight into steel technology, the company succeeded in improving the quality of the bearing steel. For a long time, this division generated a third of the company's income.
Timken in 2003 took over Torrington Company of Connecticut , with worldwide sales of 1.2 billion US dollars and integrated them successfully. The Cartel Office approved this purchase because the products largely complemented each other. Because Torrington had lower-cost manufacturing facilities in the southern United States, Timken largely abandoned its own bearing production at its Canton headquarters in the years that followed. In 2007 the subsidiary Latrobe Steel Company was sold . At the end of 2009, Timken sold the needle roller bearing business to the Japanese roller bearing manufacturer JTEKT .
The special steels division was spun off as TimkenSteel in mid-2014 .
Former US Ambassador to Germany, William R. Timken Jr. , served with the Timken Company for 43 years and served as Chairman of the Company for the past 30 years.
Web links
- Timken Company Homepage
- Timken Corporate Overview
- hemmings.com: Henry Timken (accessed May 19, 2016)
Individual evidence
- ↑ Executive Leadership Team
- ↑ a b Timken 2017 Form 10-K Report , accessed June 3, 2018
- ↑ Patent US606635 : Roller bearing for vehicles. Registered on August 28, 1897 , published June 28, 1898 , inventors: Henry Timken, Reginald Heinzelman.
- ↑ Timken Sells Latrobe Steel ( Memento of the original from May 15, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , January 9, 2007
- ^ JTEKT to Acquire Timken's Needle Roller Bearings Business, Creating World's Premier Automotive Bearings Company
