Timken sales climb 28%
The Timken Company reported record sales of $5.2 billion for 2011, up 28 percent from the prior year on strong demand from diverse industrial markets.
The increase primarily reflects growth from the energy, heavy truck, mining, rail and industrial distribution sectors, as well as favorable pricing, material surcharges and acquisitions, the company said.
In 2011, the company generated $454.3 million in income.
For the fourth quarter, Timken reported sales of $1.3 billion, an increase of 18 percent from the same period in 2010. Growth across most of the company's end markets, higher surcharges, pricing and acquisitions contributed to the improvement. Acquisitions accounted for approximately one third of the growth.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
