The Timken Company is best known for their anti-friction bearings and assemblies that are marketed in more than 30 countries and territories. There are four major operating segments of the business: Process Industries, Aerospace and Defense, Steel and Mobile Industries. Their Process Industries segment manufactures mechanical power transmission components, industrial chain and bearings that they offer to original equipment manufacturers (OEM) and suppliers of energy, heavy industries and power transmission machineries. Their Aerospace and Defense arm markets and produces products for commercial and military aviation applications. The Steel operations produce more than 450 specialty grades of carbon and alloy steel marketed in forms of ingots, tubes and bars for the industrial, energy and automotive sectors. Their Mobile Industries produces mechanical components found in passenger cars, farm tractors, commercial vehicles, light trucks, crawler dozers, excavators and other vehicles.
It was in 1899 that Henry Timken founded the business in St. Louis as The Timken Roller Bearing Axle Company. Prior to the creation of the business, he already got a patent for his tapered roller bearing the previous year. He was able to make a through in the production of bearings by using a “cup” and cone” design which allows the weight and load to be evenly distributed across the cups, cones and bearings. This addressed the issue of bearings failing because of excessive heat caused by friction.
It was in 2003 that the business was able to conquer its domestic market by acquiring its largest competitor, the Torrington Company. This acquisition was followed by several other businesses pawned by the enterprise which helped the business grow into a $4.99 billion generating company.