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The eBearing News
September 12, 2005
Timken Divests Linear Motion Division
and Nadella Brand
copyright © 2005 eBearing Inc.
The Timken Company (USA, NYSE:
TKR) has
sold off its European Linear Motion Systems (LMS) division, along with the Nadella
brand name, to Overseas Industries SpA (Italy).
The LMS division designs and produces linear guides for industrial equipment manufacturers and in 2004 had
net sales of approximately USD $40 million.
Timken also sold off the Nadella brand name, which came to Timken as part of the Torrington
acquisition in early 2003. Importantly, the sale does not include Nadella needle roller bearing
products or assets; Timken will shift all of its Nadella branded needle bearing product
and marketing to under the Timken Torrington brand.
Linear Motion's operations include Timken SpA (Milan, Italy), and Timken Deutschland GmbH (Stuttgart, Germany).
Overseas said the Italian operation will be renamed Nadella SpA and the German
operation will be renamed Nadella GmbH.
In addition to its manufacturing operations, the LMS business also purchases and distributes needle roller
bearings and a range of diversified industrial products, all under the Nadella brand.
Overseas Industries is a manufacturing investment organization, acquiring companies as part of a
long-term investment strategy. Currently, the company operates a portfolio of more than 30
industrial product manufacturers.
Michael J. Connors, Timken's VP of Industrial Equipment, pointed out that Nadella linear and other diversified
purchased products are not part of the company's core strategy: "Nadella linear and
diversified products serve niche applications. Selling the unit is part of our ongoing strategy
to focus on businesses that will grow by bringing value to customers through our knowledge of
friction management and power transmission. This sale of the LMS linear guide and diversified products
business does not affect our core needle bearing business, as we continue to aggressively pursue
profitable growth in our needle product line."
Federico Nordio, Overseas GM, said: "We are excited about the potential of this business. LMS is a
specialized business with strong engineering and manufacturing capabilities. We expect to leverage all of
these strengths to further enhance LMS as a successful, profitable enterprise that will build upon its
market-leading position in Italy and Germany that will ultimately deliver increased value for
LMS customers and our shareholders."
Timken's 2003 Torrington acquisition brought with it the Torrington, Fafnir, Nadella and Kilian brands.
To date, Timken has divested Kilian to its management team and the Nadella brand to Overseas, leaving
Torrington and Fafnir.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
trademarks of eBearing Inc.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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