Timken Completes Acquisition of Spinea

Timken Completes Acquisition of Spinea

May 31, 2022 by PR Newswire

Key Facts

  • The Timken Company (NYSE: TKR; www.timken.com), a global industrial leader in engineered bearings and power transmission products, has completed its previously announced acquisition of Spinea, s.r.o. (Spinea), a European technology leader and manufacturer of highly engineered cycloidal reduction gears and actuators.
  • With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward.?Timken posted $4.1 billion in sales in 2021 and employs more than 18,000 people globally, operating from 42 countries.
  • Safe Harbor Certain statements in this release (including statements regarding the company's forecasts, estimates, plans and expectations) that are not historical in nature are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995.
  • The company cautions that actual results may differ materially from those projected or implied in forward-looking statements due to a variety of important factors, including: the inability to successfully integrate the newly acquired business into the company's operations or achieve the expected synergies associated with the acquisition; negative impacts to the newly acquired business as a result of global conflicts and hostilities; and adverse changes in the markets served by the newly acquired business.

Click To Read Full Article

PERSON
MONEY
ORGANIZATION
WORK OF ART
GEOGRAPHY
GROUP
CRYPTOCURRENCY
LAW
MISCELLANEOUS

This story was produced by the Kwhen Automated News Generator. For more articles like this, please visit us at finance.kwhen.com. Write to editors@kwhen.com. © 2021 Kwhen Inc.

Was this content valuable for you?