Timken sells airframe business

The Timken Company has reached an agreement with the Roller Bearing Company of America to sell its airframe bearing business which includes certain assets at its Standard Plant in Torrington, CT.

The Timken Company has reached an agreement with the Roller Bearing Company of America (RBC) to sell its airframe bearing business which includes certain assets at its Standard Plant in Torrington, CT.

Timken’s Standard Plant presently manufactures high volume, catalogue products – aircraft control bearings, aircraft rod ends, airframe needle roller bearings and radial airframe bearings.

The agreement calls for Timken to cease airframe manufacturing and separate the operative workforce of approximately 190 associates in the next 60 days. Upon completion of the sale of Standard Plant assets, estimated for December 2003, RBC would begin hiring the workforce needed to operate the plant.

‘The sale takes us out of the catalogue aerospace market and allows us to concentrate on bringing greater value in specialty, precision aerospace products for engines, gearboxes, auxiliary power units, landing wheels and instrumentation and all helicopter bearing applications,’ said Michael C. Arnold, president – Industrial Group – The Timken Company.

Timken acquired The Torrington Company, including the Standard Plant, in February 2003. As part of the integration, Timken has been reviewing all its operations to focus on the most strategic activities that will ‘bring value to customers and shareholders’.

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