The Timken Company's Annual Meeting of Shareholders to be Held on May 7, 2015
2014 Annual Report Features a Stronger, More Focused Timken
NORTH CANTON, Ohio, March 30, 2015 /PRNewswire-FirstCall/ -- The Timken Company (NYSE: TKR; www.timken.com) released its 2014 Annual Report to shareholders and announced its Annual Meeting will be held on May 7. The Annual Report – The World in Focus – highlights how the company, following a period of strategic realignment and reshaping of its product portfolio, is becoming stronger and even more focused on its customers and shareholders.
"We are focused on the fundamentals," wrote Richard G. Kyle, president and CEO, in his letter to shareholders. "That means a decisive management team, operational excellence, global growth and solid margins. We are committed to our customers and to identifying and solving their most complex friction management and power transmission needs.
"During the year, we transitioned leadership and quickly developed a cohesive, action-oriented and aligned management team who shares a clear vision of our priorities: excellence, growth and knowledge-based product leadership," Kyle added. "The team launched several new growth initiatives, improved operating margins and delivered solid returns to shareholders."
Kyle noted that the company also introduced DeltaX, a multi-year initiative to accelerate growth. The effort includes redesigning product management, engineering and business resources to drive product development to commercialization more efficiently, allowing Timken to better meet customer needs.
To view the Timken 2014 Annual Report and 2015 Proxy Statement, which contains more information about the company's Annual Meeting, visit www.timken.com/investors.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) engineers, manufactures and markets bearings, transmissions, motors, gearboxes, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company's growing product and services portfolio features many strong industrial brands including Timken®, Fafnir®, Philadelphia Gear®, Interlube® and Drives®. Known for its quality products and collaborative technical sales model, Timken posted $3.1 billion in sales in 2014. With approximately 16,000 people operating from 28 countries, Timken makes the world more productive and keeps industry in motion.
| Media Contact: |
Investor Relations: |
| Gloria Irwin |
Steve Tschiegg |
| Communications Manager |
Director - Capital Markets and Investor Relations |
| 4500 Mount Pleasant St. N.W. |
4500 Mount Pleasant St. N.W. |
| North Canton, OH 44720 U.S.A. |
North Canton, OH 44720 U.S.A. |
| Telephone: 234.262.3514 |
Telephone: 234.262.7446 |
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SOURCE The Timken Company
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