which will benefit our customers and employees."

Timken (TIMKEN) to complete the local acquisition of Philadelphia Gear Manufacturing Company
July 4, 2011 - The Timken Company (TIMKEN) time in the United States on Friday announced that it has completed the acquisition of Philadelphia Gear manufacturing company, the purchase price was $ 200 million. Philadelphia Gear Manufacturing Company (Philadelphia Gear) is for industrial and marine gear transmission and service industries to provide a leading supplier.
Timken president and CEO James • Griffith said: "The acquisition of Philadelphia Gear Manufacturing Company may promote further enrich our product portfolio beyond bearing strategy to provide customers with a more comprehensive mechanical power transmission services, we We warmly welcome Philadelphia Gear manufacturing company employees, excellent brand and reputation join Timken family. "
As of March 2011 for 12 months, Philadelphia Gear manufacturing company sales ofapproximately $ 85 million. The company recently won a contract worth $ 80 million, for the U.S. Navy to provide main reduction gear. In addition to maritime applications, the company can continue to grow as energy and infrastructure markets with quality gear drives, replacement products and services know-how.
Philadelphia Gear tapered bearing company headquartered in King of Prussia, Pennsylvania, in the United States there are five technical service centers, and has six offices worldwide sales outside the United States. It can be added to bring more expertise in mechanical power systems. Philadelphia Gear manufacturing company currently has 220 employees, Timken Company and the company's management plans to set up more offices worldwide expand service mode.
The Timken Company, through its wholly owned subsidiary, Timken Gears & Services Inc. Pair of Philadelphia Gear manufacturing company for the acquisition of all assets, and this new service business into gear processing equipment Timken Industrial Division. Timken expects Philadelphia Gear manufacturing companies added to increase its first full year after the acquisition of income, and within three years (to 2014) to create more than its acquisition cost of capital income.
Timken processing equipment • Industrial President Chris Coughlin said: "Philadelphia Gear Manufacturing Company and Timken combination will bring powerful, integrated effects, and further enhance the company's forces, to provide customers with a wider range of values while bringing new opportunities for profitable growth. "Coughlin Philadelphia Gear Manufacturing Company appointed incumbent president Carl Rapp of Timken Gears and Services Inc. responsible person in the world to play within the optimum strength of both organizations. Rapp said: "Joining Timken, we will have the opportunity to create a broader platform in the world to expand our range of services, which will benefit our customers and employees."
Deloitte Touche Tohmatsu (Deloitte) and Jones Day (Jones Day) in the transaction as Timken's adviser.