October 14, 2008

Timken to acquire Boring Specialties

The Timken Company has agreed to acquire Boring Specialties Inc, extending its presence in the growing energy market.

BSI primarily serves the oil and gas industry, with products used in the manufacture of down hole drilling and completion components. Timken steel is used in a number of BSI's products.

Timken supplies friction management and power transmission products and services. It had sales of USD 5 billion in 2006, operations in 26 countries and 25,000 employees.