The 2020 Mid-Year Economic Update_long

Timken’s New Focus

Recent article looks at Timken's approach to new markets.
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Timken is featured in a short BusinessWeek article this week talking about its plans to continue to diversify its end-markets and geographies.

As the article says: "The key is to find places for its highly engineered parts in far more expensive and demanding machines than Chevys or Fords." The focus for Timken will be on targeting industries willing to pay a premium for high-quality parts; for those industries, including aerospace, the cost of equipment failure is high.
 
Wind energy will also continue to be a priority for the PT/bearings manufacturer.
 
It’s an example of one company looking to offset dramatic sales decreases by looking more closely at new and existing market potential and sustainability.

 

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