Timken completes acquisition of belts business

Resource from: MRO Likes:204

Sep 02,2015

North Canton, OH – The Timken Company has completed its previously announced transaction with American Industrial Partners to acquire the Carlstar Belts Business. The business, a North American manufacturer of belts used in industrial, commercial and consumer applications, markets well-recognized brands including Carlisle, Ultimax and Panther, among others. The company expects the transaction to be accretive over the balance of 2015. For the 12 months ending June 30, 2015, Carlstar Belt sales were approximately US$140 million. The belts business further diversifies the company’s portfolio beyond engineered bearings, bringing customers an expanded offering of premium mechanical power transmission products and services. In addition to belts, the Timken power transmission portfolio includes gearboxes, housed unit bearings, chain, couplings, lubrication systems and a variety of industrial services, which are marketed under well-known industrial brands including Timken®, Philadelphia Gear, Drives® and Interlube. “Our businesses are highly complementary, with Timken serving many of the same end-markets and customers,” said John Vassilaros, who will continue to lead the belt business for Timken. Carlstar Belts, headquartered in Springfield, MO, has about 750 employees and two US manufacturing facilities. The product portfolio features more than 20,000 parts engineered for demanding applications and includes wrap moulded, raw edge, v-ribbed and synchronous belt designs.

(MRO)

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Align Aerospace Appoints Jerome De Truchis President and Chief Executive Officer
Next Ontario firm going on hiring blitz for CNC operators

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.