Timken acquires PT Tech
The Timken Company has acquired PT Tech Inc., a manufacturer of engineered clutches, brakes, hydraulic power take-off units and other torque management devices used in mining, aggregate, wood recycling and metals industries.
"We are pleased to add industrial clutches and brakes to Timken's growing portfolio of mechanical power transmission products," said Richard G. Kyle, Timken president and chief executive officer. "This acquisition allows us to better serve our customers by offering a broader, more diverse package of products and services. The addition of PT Tech will also provide ample growth opportunities, as we leverage our portfolio to drive growth across complementary markets around the world."
Based in Sharon Center, Ohio, PT Tech serves an established original equipment customer base primarily in North America. In 2016, sales were approximately $20 million.
This acquisition advances the company's strategy to grow its portfolio of mechanical power transmission products to complement its position in engineered bearings. In recent years, Timken has completed a number of acquisitions featuring products adjacent to its core bearing lines.
Terms of the transaction were not disclosed.
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