NORTH CANTON, Ohio, Nov. 1, 2019 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in engineered bearings and power transmission products, has completed its previously announced acquisition of BEKA Lubrication (BEKA), a leading global supplier of automatic lubrication systems, for approximately $165 million.
Founded in 1927, BEKA is a leading global supplier of automatic lubrication systems, serving a diverse range of industrial sectors including wind, food and beverage, rail, on- and off-highway and other process industries. BEKA sales are expected to be approximately $135 million for the full year 2019.
This acquisition positions Timken as the world's second largest producer of industrial automatic lubrication systemsi, which extend equipment life and improve reliability over manual lubrication methods, reduce the environmental impact caused by over-lubricating and lower total costs for equipment and machine owners.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $3.6 billion in sales in 2018 and employs more than 18,000 people globally, operating from 35 countries.
iBased on industry and company estimates.
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SOURCE The Timken Company