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The Timken Company (NYSE: TKR), Canton, OH, has agreed to acquire QM Bearings and Power Transmission, Inc., Ferndale, WA. QM manufactures spherical roller bearing steel housed units and elastomeric and steel couplings used in demanding processes such as sawmill and logging operations.
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The addition of QM expands Timken's penetration in high-performance applications and extends its power transmission capabilities beyond the company's original, core bearing business. The acquisition is part of the company's continuing effort to provide customers with a wider breadth of friction management and power transmission products.
QM's product offering will complement Timken's recently released Type E product line. It will strengthen the presence of the Timken brand in the roller housed unit category and provide an additional offering for markets such as forestry, which require high-performance, durable products.
The acquisition, which is expected to be accretive to earnings in its first full year, is subject to certain government and regulatory approvals. Timken expects to close the transaction by the fourth quarter of 2010. Terms of the deal were not disclosed. In the past 12 months, QM posted sales of more than $14 million.