Timken to Acquire Drives, Further Expanding Power Transmission Line

By Matthew Kennedy
Benzinga Staff Writer
August 31, 2011 10:02 AM

Symbols: TKR

Posted in: News, M&A

The Timken Company (NYSE: TKR) today announced it has agreed to acquire privately held Drives LLC for $92 million in cash. Based in Fulton, Ill., Drives is a leading manufacturer of highly engineered drive-chains, roller-chains and conveyor augers for the agricultural and industrial marketplace. The company posted sales of approximately $100 million in the last 12 months, with 430 employees in North America.

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Timken to Acquire Drives, Further Expanding Power Transmission Line

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