Achieved sales CAGR of 30+ percent over last five years; well-positioned for additional growth
NORTH CANTON, Ohio, June 20, 2023 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in engineered bearings and industrial motion products, is experiencing strong demand for the broad range of application-proven products and services it offers the food and beverage industry. Timken has built a comprehensive food and beverage portfolio through both organic and inorganic growth, including its 2022 addition of GGB Bearings, and achieved a total sales compound annual growth rate of more than 30 percent in the market-sector over the last five years. The company expects an expanding global footprint, new product line launches and growing demand for food worldwide to drive additional growth in the coming years.
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