Timken Co was founded in 1899. It designs, manufactures and markets mechanical components such as bearings and power transmission solutions, tapered roller bearings, precision cylindrical and ball bearings, spherical and cylindrical roller bearings, chains and augers, gear-drive systems, and aerospace products, industrial services, steel, and precision steel components. The Company operates under four reporting segments: Mobile Industries; Process Industries; Aerospace; and Steel. The Mobile Industries segment includes aftermarket distribution operations for automotive and heavy truck applications. The Process Industries segment includes sales of bearings, mechanical power transmission components, industrial chains, augers and related products and services to customers including original equipment manufacturers in the power transmission, energy and heavy industry market sectors. The Process Industries segment also includes aftermarket distribution operations for products other than steel and automotive applications. The Aerospace segment includes sales of bearings, helicopter transmission systems, rotor head assemblies, turbine engine components, gears and other precision flight-critical components for commercial and military aviation applications. The Aerospace segment provides aftermarket services, including repair and overhaul of engines, transmissions and fuel controls as well as aerospace bearing repair and component reconditioning. The Aerospace segment also includes sales of precision bearings and related products for health and critical motion control applications. The Steel segment manufactures alloy steel as well as carbon and micro-alloy steel. Included in its portfolio are SBQ bars and seamless mechanical tubing. In addition, this segment supplies machining and thermal treatment services, as well as manages raw material recycling programs. Less than 10% of the Company's steel is directly consumed in its bearing operations. In addition, the Company sells steel to other anti-friction bearing companies and to aircraft, forging, construction, industrial equipment, mining, tooling, oil and gas drilling and automotive industries and steel service centers. The Company's customers are from sectors such as industrial equipment, construction, agriculture, rail, aerospace and defense, automotive, heavy truck and oil and gas. The Company's international footprint consists of 64 manufacturing facilities, 12 technology and engineering centers and 11 distribution centers and warehouses. Currently the Company operates in 28 countries. The Company competes with domestic manufacturers and many foreign manufacturers of anti-friction bearings, including SKF Group, the Schaeffler Group, NTN Corporation, JTEKT Corporation and NSK Ltd. It also competes with foreign-owned domestic producers such as Gerdau Special Steel North America (a unit of Brazilian steelmaker Gerdau, S.A) and Republic Steel (a unit of Mexican steel producer ICH), along with domestic steel producers Steel Dynamics, Inc. and Nucor Corporation. Seamless tubing competitors include foreign-owned domestic producers ArcelorMittal Tubular Products (a unit of Luxembourg-based ArcelorMittal, S.A.), V&M Star Tubes (a unit of Vallourec, S.A.), and Tenaris, S.A. The Company owns U.S. and foreign patents, trademarks and licenses relating to certain products. The Company is subject to various federal, state, local and foreign environmental, health and safety laws and regulations concerning issues such as air emissions, wastewater discharges, solid and hazardous waste handling and disposal and the investigation and remediation of contamination.