Kari Groh, general manager - global logistics and customer service for Timken's industrial distribution business - said, "Initial analysis conducted last year as part of the CoLinx project indicated that 85% of our shipping regions were common among the CoLinx founding members. This provided compelling evidence for us to launch an initiative that would capitalize on synergies between our respective shipping and warehouse operations."

According to Timken, the sale "...allows Timken to increase its level of service to industrial distributors while benefiting from CoLinx' comprehensive warehousing and logistical capabilities."

The sale and transfer will be complete by May 1, 2002. The asset purchase agreement includes the transfer of warehouse equipment and also provides employment within the CoLinx organization for current full-time Timken employees.