Timken Purchases Drives LLC For $92 Million
The Timken Company completed its purchase of drive-chain manufacturer Drives LLC for $92 million, Timken said Oct. 3.
The Drives acquisition further diversifies Timken into power transmission and mechanical motion and broadens the company’s overall technology offering to customers, said Christopher Coughlin, president of Timken's Process Industries segment.
Drives LLC produces highly engineered drive-chains, roller-chains and conveyor augers for the mobile and industrial machinery sectors.
Fulton, Ill.-based Drives has 430 employees in North America and sales of approximately $100 million.
For more information, visit http://www.timken.com.