The Timken Company is a "leading international manufacturer of highly engineered bearings, alloy and specialty steels and components, as well as related products and services. With operations in 24 countries, the company employs about 18,200 associates worldwide and recorded 2001 sales of U.S. $2.4 billion."
According to Yahoo! Finance, "The Timken Company manufactures two basic product lines, anti-friction bearings and steel. Differentiation in these two product lines comes in two different ways: differentiation by bearing type or steel type and differentiation in the applications of bearings and steel. In bearings, Timken is best known for the tapered roller bearing. In addition to bearing products, Timken provides bearing reconditioning services for industrial and railroad customers, both globally and domestically. Steel products include steels of low and intermediate alloy, vacuum-processed alloys, tool steel and some carbon grades."
"TKR manufactures anti-friction bearings (tapered roller bearing, cylindrical, straight and ball bearing) and steel products (intermediate and low alloy, vacuum-processed alloys, and tool steel). For the fiscal year ended 12/31/02, revenues rose 4% to $2.55 billion. Net income before accntg. [sic] change totaled $51.5 million, vs. a loss of $41.7 million. Results reflect increased demand in the manufacturing industry and cost savings from manufacturing restructuring and salaried cost reductions."
Jay A. Precourt, currently on the Halliburton Company Board of Directors, was re-elected to Timken's board in April 2002. He is currently chairman of the Audit Committee.
1835 Dueber Avenue, S.W.
Canton, OH 44706
Phone: (330) 438-3000
Fax: (330) 471-3452