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The eBearing News
October 7, 2005
Timken Acquires Bearing Inspection
copyright © 2005 eBearing Inc.
The Timken Company (USA; NYSE: TKR) announced it has acquired privately-held Bearing Inspection Inc. (Bii)
Timken's move is an effort to, "strengthen its strategic position in the aerospace industry," and its
second nonmanufacturing aerospace-related acquisition in just over a year.
Note: Timken later reported it paid $42.5 million for Bii.
Founded in 1955, Bii was the first company to legitimize reconditioned bearings for aircraft and aerospace
engine overhaul programs, by providing higher quality reconditioning than customers had believed
possible. It is now the largest independent bearing services company. Bii provides bearing inspection,
reconditioning and engineering services from its 80,000 square foot operation in Los Alamitos, California.
Customers and markets include global air carriers, engine overhaul facilities, military organizations,
and aeroderivative ground power, industrial and marine propulsion service centers around the world.
Bii claims its reconditioning offers 60% to 80% cost savings on high-value bearings vs. buying
new, with an average turnaround time of less than 12 days.
The company also offers related value-added services such as customer inventory management, reject replacement,
on-site inspection services, engine kit programs and a number of specialized engineering services.
Bii will become headquarters for Timken Aerospace Services, with all key Bii personnel remaining in place.
In addition, Bii is absorbing existing repair operations under the unit's leadership. Bii's President
Drew Baker, will become general manager of the combined Timken Aerospace Services operations.
Timken Aerospace currently performs repair and reconditioning at its Lebanon, New Hampshire home
office location, and at a facility in Wolverhampton, UK.
Mr. Baker said: "Timken brings access to incredible resources, and we are looking forward to providing
even stronger reconditioning programs to our customers. Bringing together the operation's reconditioning
experts with Timken's comprehensive knowledge of friction management and broad manufacturing capabilities
will deliver innovation and value that can improve customer yields on existing platforms while supporting
the growth of new programs."
J. Ron Menning, VP of Aerospace, Consumer and Super Precision, said: "This acquisition transforms Timken's
position in the aerospace services market. The combination of Bii's recognized leadership in bearing
reconditioning with Timken's capabilities as the foremost global manufacturer of aerospace bearings
will dramatically enhance the value we can offer worldwide aviation customers and generate synergies
for the business."
In late 2004, Mr. Menning -- highly regarded for his success running the company's Bucyrus plant -- said Timken
Aerospace, which has already doubled its sales in recent years,
would double in size again by 2009. At the time, he remarked, "We expect to double Timken Aerospace's size by
expanding the product range, through acquisitions, and by globalization of the largely American company."
Over the years, Timken Aerospace has generally grown by acquisition. It acquired Miniature Precision Bearings
in 1990 (Split Precision in Keene, New Hampshire and Split Ballbearing in Lebanon, New Hampshire).
At that time, Lebanon became home to Timken Aerospace.
In 1998, Timken acquired Torrington's Fafnir aerospace bearing operation in Wolverhampton, UK.
In mid-2004, Timken acquired Alcor Engine Company and its affiliate Advance Repair Technologies
Inc., both located in Gilbert, Arizona and now renamed Timken Alcor Aerospace Technologies.
Alcor provides, "an alternative source for high-quality identical replacement parts while enabling
seamless interchangeability between high-priced OEM parts and PMA parts."
article: Timken acquires Alcor Engine
As with the Alcor acquisition, the 120-employee Bii acquisition is more about bringing value-added services
to the aerospace mix than pure-play bearing manufacturing resources.
Manufacturing is not forgotten -- for example, Timken has become the sole supplier of bearings for the
Rolls-Royce Corporation Model 250 line of
aircraft engines. More than 15,000 Model 250 engines are currently in service in helicopters and general
aviation around the world.
But the company has also been successful ramping up its aerospace value-added market.
In mid-2004, Timken became the first Rolls-Royce's first outside supplier of repair services
in North America. In early 2005, Timken was the first bearing manufacturer to receive approval from
GE to perform Level 4 repairs of all manufacturers' bearings.
Timken Aerospace offers a full line of aircraft and aerospace quality bearings, and a short line
of turbine engine components. Timken bearings are found in aircraft engines, gearboxes, helicopter
transmissions, APU's, landing gear, airframes, and even the instruments.
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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
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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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