Timken Company
The Timken Company is a manufacturer of bearings and specialty steels located in Canton in the U.S. state of Ohio. It was founded in 1899 by Henry Timken as "The Timken Roller Bearing Axle Company" in St. Louis. A year earlier, Timken had received a patent on his case hardened tapered roller bearings. Henry Timken was born in Bremen and had emigrated with his family mid-19th century in the United States.
Company History
The father of Henry Timken had a Surrey factory in St. Louis. Due to the former technology, timber axis in Holznabe, it often came to the wheel or broken axle. Due to the high friction is also needed more draft animals (cost ). Henry Timken and his brother Heinzelmann realized that radial and axial forces acted on this bearing. Therefore, they developed a camp that could accommodate both forces, the tapered roller bearing. The first was a publicity stunt obviously heavily loaded wagon, which was pulled by a mule only by St. Louis. The subsequent trial for animal cruelty Henry won because he was able to present the advantages of storage.
1901, the company moved to Canton in order to be closer to the places of production of U.S. steel and automotive industries. 1916 Timken began with the production of steel. This step was pure misery. There was no steel for the bearing production on the open market due to the First World War. Through the deeper insight into the steel technology the company managed an improved quality of the bearing steel. Today, this division accounts for a third of revenue. Here, about 80% of steel production goes to external customers.
The Timken Company is a global company that is listed on the New York Stock Exchange. According to Fortune magazine, Timken is one of the 500 largest U.S. companies and has operations in more than 50 countries, including Germany. In the past five years, sales of Timken Company has doubled to more than $ 5 billion. Today, Timken employs approximately 26,000 people worldwide.
Timken in 2003 took over the Torrington Company of Connecticut, with worldwide sales of 1.2 billion U.S. dollars and integrated them very successful. This purchase agreed to the Cartel, because the products are complements largely. Since Torrington production with lower costs entertained in the southern United States, Timken was the own stock production at the company headquarters in Canton in the following years for the most part.
2007 sold to the subsidiary Latrobe Steel Company. The end of 2009 sold Timken needle bearings business to the Japanese bearing manufacturer JTEKT.
The former U.S. Ambassador to Germany, William R. Timken, Jr., over 43 years worked at the Timken Company, and during the last 30 years, the company's chairman.