On December 3, 2020, the Timken Company (NYSE: TKR;), a global leader in bearing and power transmission products, recently announced the acquisition of the assets of Aurora Bearing Company (Aurora Bearing Company). Aurora manufactures rod end bearings and spherical bearings, serving many industries such as aviation, racing, off-road equipment and packaging machinery. The company's 2020 full-year revenue is expected to reach 30 million US dollars.
"The acquisition of Aurora further expands our product range, consolidates our leading position in the global engineered bearing industry, and gives us better customer service capabilities in the bearing field," Timken Executive Vice President and Group President Christopher Ko Flynn said. "Aurora's product line and service market are an effective complement to our existing business."
Aurora is a private company founded in 1971 with approximately 220 employees. Its headquarters and manufacturing and R&D base are located in Montgomery, Illinois, USA.
This acquisition is in line with Timken’s development strategy, which is to focus on improving its leadership in the engineering bearing field while expanding its business scope to peripheral products and markets.
Other details about the acquisition were not disclosed.