Contacts - Timken
Contacts - Timken
Contacts - Timken
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Corporate Summary
Our Vision<br />
We are dedicated<br />
to improving our customers' performance<br />
by applying our knowledge<br />
of friction management and power transmission<br />
to deliver unparalleled value and innovation<br />
all around the world.<br />
Our Core Values<br />
Ethics & Integrity<br />
Quality<br />
Innovation<br />
Independence
The <strong>Timken</strong> Company keeps the world turning with innovative friction management and power<br />
transmission products and services. <strong>Timken</strong> is where you turn for better performance.<br />
1
About Us<br />
2<br />
In an increasingly competitive world, <strong>Timken</strong> provides solutions that help customers reach their full potential.<br />
Our customers turn to us as a trusted partner in solving their toughest friction management and power<br />
transmission challenges. And while we provide products, services and technical support that help equipment<br />
perform better, customers rely on us for so much more – like reducing operating costs and providing expertise<br />
that contributes to the bottom line.<br />
As the world changes, so do our customers’ needs. In addition to offering more than 100 years of experience,<br />
we continue to expand our capabilities in engineering, metallurgy and precision manufacturing to meet those<br />
needs. We are committed to solving technical problems for our customers, no matter how simple or complex.<br />
Because we succeed when they do.
2007 Financial Highlights*<br />
(*dollars in thousands, except per share data)<br />
Net sales $ 5,236,020<br />
Net income $ 220,054<br />
Earnings per share, diluted $ 2.30<br />
Dividends per share $ .66<br />
The <strong>Timken</strong> Company is a leading global provider of<br />
highly engineered bearings, power transmission solutions<br />
and high-quality alloy steels. We serve a wide<br />
range of industries through our Bearings and Power<br />
Transmission Group business segments – Aerospace<br />
and Defense, Process Industries and Mobile<br />
Industries – and our Steel Group.<br />
Major Products and Services<br />
Aerospace components and services<br />
Alloy steel bars and tubing<br />
Bearings, assemblies and related parts<br />
Bearing maintenance tools<br />
Condition monitoring systems and services<br />
Engineering and technical services<br />
Grease and lubricators<br />
Helicopter transmissions and rotorhead assemblies<br />
Precision steel components<br />
Repair and refurbishing services<br />
Sensor products<br />
Training<br />
Fast Facts<br />
Established in 1899<br />
Total number of associates worldwide: 25,000<br />
Total number of facilities: 62 plants and 104 sales<br />
offices, technology centers and distribution warehouses<br />
located in 27 countries on six continents<br />
Paid 342nd consecutive quarterly dividend in 2007<br />
Listed on the New York Stock Exchange since 1922<br />
Technology<br />
<strong>Timken</strong>’s technology footprint spans the globe. Our<br />
12 technology centers are located in Bangalore, India;<br />
Brno, Czech Republic; Colmar, France; Künsebeck,<br />
Germany; Ploeisti, Romania; and the United States in<br />
Canton and North Canton, OH; Greenville, SC; Lebanon<br />
and Keene, NH; Manchester, CT; and Mesa, AZ.<br />
Quality<br />
Quality is the cornerstone of our brand promise<br />
and a key to our global competitiveness. <strong>Timken</strong><br />
associates are trained in quality processes to ensure<br />
that customers receive consistent and excellent<br />
quality in our products and services.<br />
As of 2007, <strong>Timken</strong> received more than 300<br />
customer quality awards.<br />
As of 2007, <strong>Timken</strong>’s plants and distribution centers<br />
received 105 quality certifications under ISO 9001,<br />
ISO/TS 16949, AS9100, M-1003 and other quality<br />
certifications.<br />
Global Citizenship<br />
Operating with ethics and integrity is one of our core<br />
values. Making ethical business decisions and treating<br />
people with respect are embedded in the company’s<br />
culture.<br />
Our values are the foundation for how we interact<br />
with the world.<br />
<strong>Timken</strong> has a long tradition of supporting the<br />
communities in which it operates. Each year, <strong>Timken</strong><br />
contributes millions of dollars to social and educational<br />
programs. Associates are encouraged to volunteer<br />
their time to local efforts.<br />
Just as we act to sustain healthy communities, we<br />
also are committed to sustaining the environment.<br />
As of 2007, 28 plants received ISO 14001<br />
environmental certification.<br />
We melt nearly 600,000 tons of shredded scrap each<br />
year to make steel. The scrap consists of a 50/50<br />
blend of autos and appliances.<br />
Through our wastewater recycling program in<br />
Canton, OH, approximately 8 billion gallons of water<br />
are reused each year.<br />
Recent Acquisitions<br />
Boring Specialties, Inc. assets, Houston, TX<br />
Deep-hole oil and gas drilling and extraction products<br />
and services.<br />
Purdy Corporation assets, Manchester, CT<br />
Design, manufacturing, testing, overhaul and repair<br />
of helicopter transmissions, rotorhead assemblies<br />
and other aircraft components.<br />
3
Aerospace and Defense<br />
4<br />
Whether it’s a bearing for the latest spacecraft or a gearbox for a helicopter, customers with specialized needs<br />
turn to <strong>Timken</strong>’s Aerospace and Defense segment for a broad range of products and services.<br />
The segment has four groups that focus on aerospace original equipment; aircraft, maintenance, repair and<br />
overhaul; transmission systems; and health and positioning control applications.<br />
With our rapidly growing capabilities, we now provide comprehensive lifecycle solutions for an increasing<br />
number of aerospace power transmission systems. While we’ve established ourselves as a global leader in<br />
bearings for aircraft applications, we also offer complementary products and services that range from turbine<br />
engine components, gears and helicopter transmissions to part reconditioning and complete engine overhaul.<br />
Our expanded offering is the reason why customers turn to us for solutions for nearly every major aerospace<br />
system.
We also leverage our application expertise to benefit customers in the health and positioning control fields. Our<br />
products provide value in equipment as varied as medical imaging, machine tools and precision robotics. For<br />
example, to meet the growing need for innovation in some of these areas, we’ve developed patented motion<br />
control technology that provides magnetic sensing for speed, direction and position.<br />
Our offerings are known for consistent, critical performance and are backed by the most stringent quality<br />
standards in the world. Continuing innovation drives a growing number of development programs, and we<br />
are a proud participant in initiatives such as the U.S. national technology plan for creating Versatile Affordable<br />
Advanced Turbine Engines (VAATE).<br />
We maintain a network of dedicated facilities in North America, Europe and Asia, all specializing in advanced<br />
processes to meet the individual needs of our diversified customer base. Recent investments, including the<br />
acquisition of Purdy Corporation capabilities, have expanded our manufacturing and technology range.<br />
By combining our global technology resources and application expertise, we have built a unique ability to solve<br />
an unequalled range of power transmission and positioning challenges. When it comes to leveraging our diverse<br />
strengths to provide customer value, the sky is the limit.<br />
Typical Applications<br />
Aerospace and<br />
Defense<br />
Gas Turbine Engines<br />
and Gearboxes<br />
Auxiliary Power Units<br />
Helicopter Transmissions<br />
Landing Gear<br />
Repair and Overhaul<br />
Services<br />
Accessories<br />
Instrumentation<br />
Helicopter Rotorheads<br />
Guidance Systems<br />
Spaceflight Systems<br />
Health<br />
Diagnostic Imaging<br />
Medical Devices<br />
Rehabilitation and Fitness<br />
Positioning Control<br />
Motion Control Systems<br />
Machine Tools<br />
Sensing Products<br />
Semiconductor<br />
Manufacturing<br />
5
Process Industries<br />
6<br />
The Process Industries segment serves more than 1,400 original equipment manufacturers (OEMs), 100,000<br />
end-users and 2,500 independent distributors. These customers put a premium on <strong>Timken</strong>’s full range of<br />
capabilities – design and application engineering, a unique understanding of materials science and delivery of<br />
solutions in both OEM and industrial aftermarket distribution channels.<br />
<strong>Timken</strong> solutions help customers increase uptime, lengthen maintenance intervals and keep machinery and<br />
equipment operating with maximum efficiency.<br />
Our products and services support a wide range of heavy equipment, large infrastructure development and<br />
energy applications. From rolling mills to wind mills and from offshore oil rigs to dockside cranes, the reliability<br />
and durability of our products contribute to superb performance and long service life.
Rolling mill operators, for example, benefit from our unique combination of steelmaking experience and<br />
knowledge of bearing fundamentals. Our full line of <strong>Timken</strong> bearing solutions is designed for high performance<br />
in the harsh environment of smelting and steelmaking.<br />
To complement our world-class bearing products, we also offer lubricants, seals, gears, condition monitoring<br />
equipment and a range of services. These include vibration and lubrication analysis, bearing repair, on-site roll<br />
shop management and application training.<br />
Operators of wind turbines deal with unrelenting forces that push equipment to its performance limits. <strong>Timken</strong><br />
works with turbine and gearbox producers worldwide, and we recently formed a joint venture to manufacture<br />
ultra-large-bore bearings for China’s expanding wind energy market.<br />
Wherever industrial processes must perform well, <strong>Timken</strong> products and services can make a difference.<br />
Paper manufacturers have turned to us for more than 60 years for superior product performance, application<br />
and technical expertise, and engineering support. The unique operating conditions of pulp and paper mills<br />
subject bearings to high stresses and other potentially damaging conditions. We design our bearings to address<br />
these concerns and maximize operating efficiency.<br />
Our bearing expertise and technology also increase the reliability and performance of reconditioned bearings,<br />
making remanufacture an economical alternative to purchasing new products.<br />
Typical Applications<br />
Aggregate and Cement<br />
Feeders and Screens<br />
Crushers<br />
Grinding Mills<br />
Kilns<br />
Oil and Gas<br />
Swivels<br />
Top Drives<br />
Draw Works<br />
Mud Pumps<br />
Crown and Traveling Blocks<br />
Heavy Movable<br />
Structures<br />
Drawbridges<br />
Retractable Roofs<br />
Food Processing<br />
Conveyors<br />
Processing Equipment<br />
Metals<br />
Rolling Mills<br />
Continuous Casters<br />
Energy and Power<br />
Generation<br />
Wind Turbines<br />
Coal Conveyors<br />
Coal Pulverizers<br />
Paper and Forest<br />
Products<br />
Dryers<br />
Press Rolls<br />
Suction Rolls<br />
Calender and Embossing<br />
Rolls<br />
Debarkers<br />
Edgers<br />
Conveyors<br />
Planer Mills<br />
Kilns<br />
Air Handling Units<br />
Printing and Textiles<br />
Press Rolls<br />
Gear Drives<br />
Planetary Gear Drives<br />
Geared Motors<br />
Industrial Gear Drives<br />
Large-Scale Gear Drives<br />
General Industrial<br />
Conveyors<br />
Extruders<br />
Cranes<br />
Hoists<br />
Pumps and Compressors<br />
Light Machinery<br />
7
Mobile Industries<br />
8<br />
The Mobile Industries segment serves applications where mobility and reliable performance go hand in hand.<br />
Manufacturers of automobiles and trucks, railcars and locomotives, and agricultural, construction and mining<br />
equipment value <strong>Timken</strong>’s friction management and power transmission solutions.<br />
Our products are designed for high performance, extended equipment life and enhanced productivity. We apply<br />
the same approach to our aftermarket products, which are available through independent distributors.<br />
Agriculture customers turn to us for products that stand up to tough conditions. We provide a complete line<br />
of bearing types engineered specifically for the demands of tractors, combines and other farm equipment.<br />
<strong>Timken</strong> ® bearings deliver greater load-carrying capacity, all-season reliability and extended life in these rugged<br />
applications.
Automotive system and vehicle manufacturers turn to <strong>Timken</strong> to improve performance and reliability in<br />
demanding applications like engine valve trains, transmissions, axles and wheel ends. Our experience also<br />
benefits a broad range of products for the automotive aftermarket, including bearings, hub assemblies, seals,<br />
grease, specialty kits and more.<br />
Heavy trucks need heavy-duty solutions to maximize performance and fuel efficiency. We offer a range of<br />
bearings, power transmission products and design capabilities to help meet these needs.<br />
For the construction and mining markets, our many years of experience in supporting equipment-makers pro-<br />
vides us with unique insights that lead to new technology. Our engineered surfaces, heat-treating processes<br />
and debris-resistant bearings enhance performance of earthmovers, off-highway trucks and shovels. <strong>Timken</strong><br />
products enable operators to maximize uptime, reduce maintenance costs and improve productivity.<br />
Maintaining critical mining machinery can be difficult, not only because of the size of the equipment but the<br />
inaccessibility of components. That’s why we offer so many condition monitoring options – from continuous to<br />
handheld systems – for machines large and small.<br />
In the rail industry, <strong>Timken</strong>’s AP bearing design is the global standard for locomotive and rail car builders and<br />
operators. We also offer seals, lubrication and rail bearing repair services. Since the 1920s, rail customers have<br />
turned to <strong>Timken</strong> for quality products, innovation and unparalleled engineering and technological support.<br />
Typical Applications<br />
Automotive<br />
Light Trucks<br />
Crossover Vehicles<br />
SUVs<br />
Passenger Cars<br />
Medium and Heavy-Duty<br />
Trucks<br />
Trailers<br />
Agriculture<br />
Tractors<br />
Combines<br />
Farm Implements<br />
Mining<br />
Haul Trucks<br />
Draglines<br />
Shovels<br />
Longwall Shearers<br />
Continuous Miners<br />
Construction<br />
Wheel Loaders<br />
Hydraulic Excavators<br />
Articulated Trucks<br />
Backhoe Loaders<br />
Skid Steer Loaders<br />
Compactors<br />
Crawler Dozers<br />
Rail<br />
Locomotives<br />
Freight Cars<br />
Passenger Cars<br />
High-Speed Rail Systems<br />
Top-of-Rail Friction<br />
Management<br />
9
Steel<br />
10<br />
With more than 90 years of steelmaking experience, <strong>Timken</strong> produces some of the highest quality alloy steel<br />
and steel products available anywhere. In the most demanding applications, our knowledge of metallurgy and<br />
commitment to quality help ensure superior performance.<br />
We offer more than 450 grades of carbon and alloy steels and can custom melt steel to customers’ specifications.<br />
When no existing steel meets their requirements, we work with our customers to develop new steels<br />
that include the precise metallurgical and physical properties needed. We also offer value-added precision steel<br />
components that range from simple cut rings to complex, highly engineered, ready-to-finish products.<br />
Our customers in automotive, energy, industrial, bearing manufacture and steel service center sectors turn<br />
to us for applications requiring reliability and durability. Crankshafts, gears for wind energy turbines, hydraulic<br />
equipment, bearing components and drilling equipment are a few of the many rugged applications for <strong>Timken</strong> ®<br />
steel and steel products.
Most <strong>Timken</strong> steel is produced as solid round or round-cornered square bars, but we are also one of the world’s<br />
largest manufacturers of alloy seamless mechanical steel tubing. Our hot-rolled round bars are available in a<br />
broad size range, and in 2008 that range will expand to one to 15 inches in diameter. Our alloy seamless steel<br />
tubing is available in diameters from two to 12 inches and in lengths up to 37 feet.<br />
<strong>Timken</strong> steel is produced at the Harrison plant in Canton, Ohio, where the first heat was poured in 1917, and<br />
at a nearby facility, the Faircrest Steel Plant, which opened in 1985. Our steelmaking operations have earned<br />
international acclaim as benchmarks for quality and productivity.<br />
Continued investments maintain the excellence of our steelmaking. For example, a new induction thermal<br />
treatment facility reduces variations in strength, toughness and hardness in bars and tubing. A new small bar<br />
mill that will go into operation in 2008 features new technology for producing superior quality hot-rolled bars in<br />
the industry’s smallest size ranges.<br />
We’ve also added new capabilities and a facility in Houston, Texas, to provide value-added products for energy<br />
customers. <strong>Timken</strong> Boring Specialties, LLC, combines world-class machining technologies with <strong>Timken</strong> steel to<br />
provide unmatched quality, customer service and supply chain solutions.<br />
Such differentiation is how we ensure our leadership in niche steel markets. Wherever material performance is<br />
essential to safe, long and reliable equipment operation, <strong>Timken</strong> will be there.<br />
Typical Applications<br />
Aerospace and<br />
Defense<br />
Aircraft Bearings<br />
Ordnance<br />
Bearing<br />
Bearing Races<br />
Hubs<br />
Rolling Elements<br />
Automotive<br />
Axles<br />
Connecting Rods<br />
Crankshafts<br />
Clutch Races<br />
CV Cages<br />
CV Joints<br />
Cylinder Liners<br />
Diesel Fuel Injectors<br />
Gears<br />
One-Way Clutches<br />
Steering Knuckles<br />
Transmission Gears<br />
Energy<br />
Completion Tools<br />
Deep-Hole Drilling<br />
Components<br />
Drill Bits<br />
Drill Collars<br />
Heavy-Walled<br />
Drill Pipes<br />
Kelly Bars<br />
Perforating Guns<br />
Stator Tubes<br />
Tool Joints<br />
Valves<br />
Industrial<br />
Bits<br />
Breakers<br />
Crankshafts<br />
Bushings<br />
Cylinder Liners<br />
Gears<br />
Forgings<br />
Hydraulic Cylinders<br />
Pins<br />
Rolls<br />
Shafts<br />
Shanks<br />
Track Links<br />
Traction Gears<br />
11
Locations<br />
ARGENTINA<br />
Buenos Aires<br />
AUSTRALIA<br />
Ballarat<br />
Brisbane<br />
Melbourne<br />
Perth<br />
Sydney<br />
BRAZIL<br />
São Paulo<br />
CANADA<br />
Bedford<br />
St.Thomas<br />
Mississauga (Toronto)<br />
CHINA<br />
Beijing<br />
Chengdu<br />
Guangzhou<br />
Hong Kong<br />
Shanghai<br />
Shenyang<br />
Wuxi<br />
Yantai<br />
CZECH REPUBLIC<br />
Brno<br />
Olomouc<br />
Prague<br />
ENGLAND<br />
Coventry<br />
Leicester<br />
Northampton<br />
Pontefract<br />
Wolverhampton<br />
12<br />
Offices Plants Distribution/ Technology<br />
Service Centers Facilities<br />
FRANCE<br />
Cachan<br />
Colmar<br />
Maromme<br />
Moult<br />
Strasbourg<br />
Vierzon<br />
GERMANY<br />
Haan<br />
Künsebeck<br />
Stuttgart<br />
HUNGARY<br />
Budapest<br />
INDIA<br />
Bangalore<br />
Chennai<br />
Jamshedpur<br />
Kolkata<br />
New Delhi<br />
Pune<br />
ITALY<br />
Brescia<br />
Milan<br />
JAPAN<br />
Yokohama<br />
KOREA<br />
Seoul<br />
LUXEMBOURG<br />
Luxembourg<br />
MEXICO<br />
Mexico City<br />
NETHERLANDS<br />
Medemblik<br />
Offices Plants Distribution/ Technology<br />
Service Centers Facilities
POLAND<br />
Sosnowiec<br />
Warsaw<br />
ROMANIA<br />
Ploiesti<br />
RUSSIA<br />
Moscow<br />
SINGAPORE<br />
Singapore<br />
SOUTH AFRICA<br />
Benoni<br />
SPAIN<br />
Bilbao<br />
Madrid<br />
TAIWAN<br />
Taipei<br />
TURKEY<br />
Istanbul<br />
UNITED STATES<br />
Altavista, VA<br />
Atlanta (Dacula), GA<br />
Bettendorf, IA<br />
Boca Raton, FL<br />
Bucyrus, OH<br />
Cairo, GA<br />
Canton (Ball Ground), GA<br />
Canton, OH<br />
Carlyle, IL<br />
Charlotte, NC<br />
Chicago (Romeoville), IL<br />
Cleveland, OH<br />
Columbus (Tryon Peak), NC<br />
Dahlonega, GA<br />
Offices Plants Distribution/ Technology<br />
Service Centers Facilities<br />
UNITED STATES (continued)<br />
Detroit, MI<br />
Eaton (St. Clair), OH<br />
Gaffney, SC<br />
Greenville, SC<br />
Honea Path, SC<br />
Houston, TX<br />
Iron Station (Lincolnton), NC<br />
Irving (Dallas), TX<br />
Keene, NH<br />
Lebanon, NH<br />
Lenexa, KS<br />
Los Alamitos, CA<br />
Manchester, CT<br />
Mascot (Knoxville), TN<br />
Mesa, AZ<br />
Milwaukee, WI<br />
New Philadelphia, OH<br />
Niles, OH<br />
North Canton, OH<br />
Ogden, UT<br />
Peoria, IL<br />
Philadelphia, PA<br />
Pittsburgh, PA<br />
Pulaski, TN<br />
Randleman (Asheboro), NC<br />
Rutherfordton (Shiloh), NC<br />
South Bend, IN<br />
Spartanburg (Duncan), SC<br />
Sylvania, GA<br />
Tucson, AZ<br />
Union (Tyger River), SC<br />
Walhalla, SC<br />
VENEZUELA<br />
Caracas<br />
Offices Plants Distribution/ Technology<br />
Service Centers Facilities<br />
TOTAL 77 62 15 12<br />
13
<strong>Contacts</strong><br />
Corporate Offices<br />
1835 Dueber Ave., SW<br />
Canton, OH 44706-2798<br />
U.S.A.<br />
Ph: (330) 438-3000<br />
www.timken.com<br />
Investor Relations<br />
Ph: (330) 471-7446<br />
www.timken.com/investors<br />
Media Inquiries<br />
Ph: (330) 471-3514<br />
www.timken.com/media<br />
Employment Opportunities<br />
For a complete listing of<br />
current employment<br />
opportunities, visit us at<br />
www.timken.com/careers<br />
An Equal Opportunity Employer<br />
E-Commerce:<br />
www.timkendirect.com – steel<br />
www.PTplace.com – bearings and<br />
related parts, North America<br />
www.endorsia.com – bearings and related<br />
parts, Europe, Latin America and Asia<br />
Bearings • Steel •<br />
Precision Components • Lubrication •<br />
Seals • Remanufacture and Repair •<br />
Industrial Services<br />
www.timken.com<br />
<strong>Timken</strong> ® is a registered trademark of<br />
The <strong>Timken</strong> Company<br />
© 2008 The <strong>Timken</strong> Company<br />
Printed in U.S.A.<br />
10M 04-08-29 Order No. 10197
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