NORTH CANTON, Ohio, May 29, 2019 — The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and power transmission products, has found the perfect fit with the recent acquisition of Diamond Chain Co., combining forces with Drives to make an impact in markets around the world.
According to Tom Young, president of Diamond Chain and Drives, "This acquisition serves as a key component in Timken's growth strategy and ability to make an impact in markets around the world. With Diamond now part of the family, we've greatly increased Timken's presence in the global roller chain market by adding a product line used in a multitude of applications. And, it gives us additional opportunities to deliver more value for customers in the industrial distribution, material handling, food and beverage, agriculture and construction industries.
"Diamond counts leading OEMs across diverse industrial segments among its long-standing customers. And working with these blue-chip companies has helped Diamond develop a reputation for quality and reliability—it's a big reason the company hit our radar.
"Diamond's history of innovation includes working on the Wright Brothers' first flying machine. And today, the company continues to operate on the cutting-edge with innovations like enhanced heat treatment processes that help pins maintain rigidity even in the most challenging environments and using laser fabrication to drastically cut manufacturing times for custom-made chain attachments."
Tom's enthusiasm continues, "By bringing Diamond and Drives together, we're able to provide customers with products that reduce changeover times and maintenance costs, while delivering the absolute best offering on the market. At the same time, we're increasing synergies to drive profitability and deliver even more value to our stakeholders.
"From its beginnings as a three-man shop specializing in bicycle chains nearly 130 years ago to what's now a global company with thousands of variations in roller chains used across aerospace, agriculture, timber, construction and many more industries, Diamond has an impressive history. And now that it's part of Timken, we feel the best is yet to come. Together, we share the common vision of operational excellence and profitable global growth. And because we're the best at what we do, it's a vision that I'm confident we'll fulfill. "
