Timken Rings NYSE Opening Bell, Celebrating 125 Years of Innovation
Rhea-AI Summary
The Timken Company (NYSE: TKR) celebrated its 125th anniversary by ringing the NYSE opening bell. President and CEO Tarak Mehta, along with board members and company leaders, participated in the ceremony at the NYSE, where Timken has been listed since 1922. The company, a global technology leader in engineered bearings and industrial motion, reported $4.8 billion in sales in 2023 and employs over 19,000 people across 45 countries.
The celebration included worldwide commemorative events and increased commitment to STEM education. Timken, founded in 1899, has contributed to various innovations, from the Wright Brothers' first flight to space exploration. The company was recently recognized as one of the World's Most Innovative Companies by Fast Company.
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- Generated $4.8 billion in sales in 2023
- Global presence across 45 countries with 19,000+ employees
- Recognition as one of World's Most Innovative Companies by Fast Company
- Diversified industrial portfolio across multiple sectors
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- None.
News Market Reaction 1 Alert
On the day this news was published, TKR declined 0.63%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
"While we celebrate our past, we're excited about the opportunities we have to build on Timken's legacy of customer-focused innovation and excellence in quality," Mehta said. "We have a bright future and are poised to profitably grow the business and deliver significant shareholder value, thanks to our strong brands, diverse portfolio and a global team of talented employees."
The NYSE bell-ringing culminated a year of commemorative events at Timken locations around the world and an increased global commitment to STEM education to help mark the milestone.
Throughout its history, Timken has played a role in landmark innovations, from the Wright Brothers' first flight and space exploration to automation and marine propulsion systems. Founded in 1899, Timken built its reputation on designing the highest-quality engineered bearings and has consistently identified new markets and applications for products designed to drive the industrial evolutions of the future.
Today's Timken is a diversified industrial leader with expertise in friction management, power transmission, industrial motion and materials science to support customers across a wide range of industries, including aerospace, marine, robotics and more. Earlier this year, Timken was named one of the World's Most Innovative Companies by Fast Company.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) a global technology leader in engineered bearings and industrial motion, designs a growing portfolio of next-generation products for diverse industries. For 125 years, Timken has used its specialized expertise to innovate and create customer-centric solutions that increase reliability and efficiency. Timken posted
Media Relations:
Scott Schroeder
234.262.6420
scott.schroeder@timken.com
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SOURCE The Timken Company
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