Sep 21 2010
The Timken Company (NYSE: TKR) today announced it has completed the acquisition of QM Bearings and Power Transmission, Incorporated, based in Ferndale, Washington. That location, as well as manufacturing facilities in Prince George, British Columbia, and Wuxi, China, along with distribution facilities in Ontario, Texas, and Cuyahoga Falls, Ohio, will become part of the Process Industries segment of Timken's Bearings and Power Transmission Group.
The acquisition is expected to be accretive to Timken's earnings in its first full year with the company. The addition of spherical roller-bearing steel-housed units and elastomeric and steel couplings expands Timken's capabilities beyond its existing, core lines for especially demanding applications such as sawmill and cement operations.
"We welcome QM associates to Timken's family of businesses and look forward to serving our customers with a broader offering of high-performance products for demanding power-transmission applications," said Michael C. Arnold, president of Timken's Bearings and Power Transmission Group.
QM has approximately 100 employees in the United States, Canada and China, and posted sales of more than $14 million for the 12-month period through June 30, 2010.