NORTH CANTON, Ohio, March 13, 2017 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a global leader in bearings and mechanical power transmission products, has once again been recognized by the Ethisphere Institute as one of the world's most ethical companies.
"Throughout our company's 117-year history, doing the right thing and treating others with honesty and respect have been at the center of everything we do," said Richard G. Kyle, Timken president and CEO. "Timken associates are known worldwide for standing by their word and making things right."
Timken is one of 131 organizations selected as a 2017 World's Most Ethical Company®. The company has been recognized each year for the last seven and is one of only five companies in the Industrial Manufacturing category to receive this designation, underscoring Timken's commitment to leading ethical business standards and practices.
Scores are generated in five key categories: ethics and compliance program (35%); corporate citizenship and responsibility (20%); culture of ethics (20%); governance (15%) and leadership; and innovation and reputation (10%).
"Over the last 11 years, we have seen the shift in societal expectations, constant redefinition of laws and regulations and the geo-political climate," explained Ethisphere's Chief Executive Officer, Timothy Erblich. "We have also seen how companies honored as the World's Most Ethical respond to these challenges. They invest in their local communities around the world, embrace strategies of diversity and inclusion, and focus on long term-ism as a sustainable business advantage. Congratulations to everyone at The Timken Company for being recognized as a World's Most Ethical Company."
About the Ethisphere Institute
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World's Most Ethical Companies recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere Magazine. More information about Ethisphere can be found at: http://ethisphere.com.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) engineers, manufactures and markets bearings, gear drives, belts, chain, couplings, 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®, Drives®, Lovejoy® and Interlube™. Known for its quality products and collaborative technical sales model, Timken posted $2.7 billion in sales in 2016. With more than 14,000 employees operating from 28 countries, Timken makes the world more productive and keeps industry in motion.
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SOURCE The Timken Company