Timken to acquire ABC Bearings
Jul. 18, 2017 - The Timken Company has announced its majority-owned subsidiary, Timken India Ltd., has entered into a definitive agreement to acquire ABC Bearings Ltd., a manufacturer of tapered, cylindrical and spherical roller bearings, and slewing rings in India.
July 18, 2017 By P&PC Staff
“Timken is a leader in the growing Indian bearing market, and the acquisition of ABC Bearings will expand our capacity, our customer base and our locally produced product breadth,” said Richard G. Kyle, Timken president and CEO. “In addition, we expect to leverage ABC Bearings’ competitive manufacturing footprint to serve export markets.”
ABC Bearings is a public limited company listed on the BSE Limited, with its registered office in Mumbai, India. The company operates primarily out of manufacturing facilities in Bharuch, Gujarat, and Dehradun, Uttarakhand.
The transaction is subject to receipt of various approvals in India, which are expected to take at least six months to complete.
With more than 14,000 employees operating from 28 countries, the Timken Company engineers, manufactures and markets bearings, gear drives, belts, chain, couplings, and related products, and offers a range of powertrain rebuild and repair services.
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