Oct 21, 2020, 06:59 ET
NORTH CANTON, Ohio, Oct. 21, 2020 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), is building on its decades-long relationship with the United States Navy. The Navy recently announced that Fincantieri Marinette Marine (FMM) will build its new Constellation (FFG-62) Class of guided-missile frigates and FMM has chosen Timken's Philadelphia Gear business to supply the main reduction gears.
Philadelphia Gear will design the critical elements of the ship's propulsion system at its technical center in King of Prussia, Pa., and manufacture and assemble them at its marine center of excellence in Santa Fe Springs, Calif. FMM's contract with the Navy includes options for up to 10 frigates. These options, if exercised, could bring the cumulative value of Timken's contract to more than $140 million over its life.
"We've worked on many U.S. Navy ships over the years and are proud to continue that relationship supplying essential elements for this next generation ship," said Carl Rapp, Timken group vice president. "We congratulate Fincantieri Marinette Marine on winning this new class of warship and thank them for entrusting us with this critical role."
The nearly 500-foot-long ships will have multi-mission capabilities, across the air, anti-submarine, surface, and electronic warfare spectrum of operations.
Timken acquired Philadelphia Gear, a recognized leader in high-performance gear drives, components and related services, in 2011. With over 128 years of power transmission design experience, Philadelphia Gear offers world-class expertise in the service and manufacture of power transmission equipment.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $3.8 billion in sales in 2019 and employs more than 17,000 people globally, operating from 42 countries.
SOURCE The Timken Company
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