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Timken Acquires Standard Machine
CANTON, Ohio -- The Timken Co. is continuing the expansion of its industrial services capabilities with the acquisition of the Standard Machine business based in Saskatoon, Canada, Timkin offficials announced Tuesday. Standard Machine, which employs 125, serves a wide variety of industrial sectors including mining, oil and gas, pulp and paper.
The company provides new gearboxes, gearbox service and repair, open gearing, large fabrication, machining and field technical services to end‑users in Canada and the western United States. Last year, Standard Machine reported sales of approximately $31 million.
Timken engineers, manufactures and markets mechanical components and high-performance steel and reported sales of $5 billion last year.
"The acquisition of Standard Machine further advances our strategy to expand our industrial services capabilities," said Carl D. Rapp, vice president of industrial services for Timken, in a prepared statement. "Standard Machine provides Timken with a great location and robust gear-making and machining skills, which differentiates them in key target market sectors. Standard Machine's location near energy and mineral resources, coupled with their strong technical team and service culture, provide an excellent platform to drive long-term growth in our business."
Greg Porter, president and CEO of Standard Machine, will lead the business in Canada on behalf of the industrial services group within Timken's process industries segment.
Earlier this year, Timken acquired the assets of Wazee Companies LLC, headquartered in Denver, Colo., and Smith Services Inc., based in Princeton, W.Va., as part of its plan to expand its industrial services capabilities.
Published by The Business Journal, Youngstown, Ohio.
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