TIMKEN Acquires American Roller Bearing (ARB)

The Timken Company (NYSE: TKR; www.timken.com), a global leader in engineered bearings and industrial transmission products, has acquired the assets of American Roller Bearing Company (ARB), a North American North Carolina-based manufacturer of industrial bearings. ARB's products will join Timken's industry-leading portfolio of engineered bearing solutions. ARB has a large installed customer base and a strong aftermarket business in the U.S., with sales in excess of $30 million in 2022.

"ARB's end-market portfolio, customer base and aftermarket positioning are an excellent fit with Timken's business model," said Richard G. Kyle, Timken President and Chief Executive Officer. "We are proud to welcome ARB and its employees to Timken." The McKen family."

ARB has approximately 190 employees and manufacturing facilities in Haden Knight and Morganton, North Carolina. Prior to this transaction, three generations of the Succop family had owned and operated ARB since founding the company in 1911.

Timken is financing the transaction with cash.