Timken closes ABC Bearings acquisition

Timken India Limited, a subsidiary of The Timken Company announced the completion of ABC Bearings Limited's acquisition. The two companies, ABC Bearings Limited and Timken India Limited were merged by way of exchange of shares.

Considering it as a milestone, Timken India expects that ABC Bearings' strong operations and talented team will aid expansion in India and enhance export capabilities of the company and help serve global markets competitively. It will also accelerate growth opportunities across its core bearing product lines.

ABC Bearings, a manufacturer of tapered, cylindrical and spherical roller bearings and slewing rings, is headquartered in Mumbai, India. The company has more than 400 employees and operates primarily out of manufacturing facilities in Bharuch, Gujarat and Dehradun, Uttarakhand. It has an established original equipment customer base focused on heavy truck and off-highway industries. The company's FY18 sales were approximately Rs. 193.5 crore.

Timken India is engaged in engineered bearings and power transmission products. The company owns a bearing manufacturing facility in Jamshedpur, Jharkhand, and gear service center in Raipur, Chattisgarh.