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September 17, 2007

Timken to Acquire The Purdy Corp.

The Timken Company, Canton, OH, has agreed to acquire The Purdy Corp., Manchester, CT, a precision manufacturer and systems integrator for military and commercial aviation customers, for $200 million.
 
The acquisition will further expand the growing range of power-transmission products and capabilities Timken provides to the aerospace market.
 
The Purdy Corp.’s expertise includes design, manufacturing, testing, overhaul and repair of transmissions, gears, rotor-head systems and other high-complexity components for helicopter and fixed-wing aircraft platforms. Purdy employs more than 200 people and had 2006 sales of $87 million.
 
Timken offers a comprehensive line of aerospace quality bearings, along with a select range of turbine engine components and MRO services.
 
The Timken Company had sales of $5 billion in 2006, operations in 26 countries and 25,000 employees.
 

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