The Timken Company (NYSE: TKR), Canton, OH, has acquired Standard Machine in Saskatoon, Saskatchewan, Canada, expanding its industrial services capabilities.
Standard Machine provides new gearboxes, gearbox service and repair, open gearing, large fabrication, machining and field technical services to endusers in Canada and the western U.S. The company, which employs 125 people, serves industrial sectors including mining, oil and gas, pulp and paper. In 2012, Standard Machine reported sales of $31 million.
"The acquisition of Standard Machine further advances our strategy to expand our industrial services capabilities," said Carl D. Rapp, vice president of industrial services for Timken. "As a respected power transmission company in Canada, Standard Machine provides Timken with a great location and robust gear-making and machining skills, which differentiates them in key target market sectors."
Standard Machine is located near energy and mineral resources.
The addition of Standard Machine expands the company's gearbox and bearing repair services into Canada. Greg Porter, president and CEO of Standard Machine, will lead the business in Canada on behalf of the industrial services group within The Timken Company's Process Industries segment.
Earlier this year, Timken acquired the assets of Wazee Companies, LLC, headquartered in Denver, CO, and Smith Services Inc., based in Princeton, WV., as part of the company's plan to expand its industrial services capabilities.
