DESIGN, ENGINEERING TECH

Timken to Acquire GGB Bearing Technology, Expanding Its Engineered Bearing Portfolio with Complementary Products

The Timken Company | September 07, 2022 | Read time : 01:41 min

Timken to Acquire News
The Timken Company, a global leader in engineered bearings and industrial motion products, has reached an agreement to acquire GGB Bearing Technology (GGB), a division of Enpro, Industries (including exclusive negotiations with respect to the French operations of GGB). Founded in 1899, GGB serves a variety of diverse customers, markets, geographies and applications with a product portfolio that complements existing Timken industry-leading engineered bearing solutions. GGB revenue is expected to be around $200 million in fiscal year 2022. 

"GGB has a strong heritage of delivering high-performance products to well-established customers who are leaders in their respective industries, This acquisition provides strong synergies and meaningfully expands our business by adding complementary products with a solid growth outlook. GGB's leading portfolio of metal-polymer bearings will further Timken's ability to deliver the best solution to our customers' most challenging friction management applications. GGB also presents an excellent cultural fit for Timken, including a commitment to corporate social responsibility with a portfolio of environmentally sustainable solutions."

-Richard G. Kyle, Timken president and chief executive officer.

GGB is a global technology and market leader of premium engineered metal-polymer plain bearings with expertise in material science, surface engineering and tribology. With manufacturing facilities across the United States, Europe and China, GGB employs approximately 900 people and has a global engineering, distribution and sales footprint. The company's tribology solutions in plain bearing coatings complements Timken's leading positions in roller and ball bearings. GGB's products are used mainly in industrial applications, including pumps and compressors, HVAC, off-highway, energy, material handling and aerospace.

Timken will fund the transaction with cash on hand and its existing revolving credit facility. The deal is subject to customary closing conditions and is expected to close in the fourth quarter of this year. Timken anticipates the acquisition will be accretive to earnings in the first full quarter after closing.

About The Timken Company:
The Timken Company designs a growing portfolio of engineered bearings and industrial motion 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 $4.1 billion in sales in 2021 and employs more than 18,000 people globally, operating from 43 countries. Timken has been recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies® by Ethisphere, and America's Best Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.

Spotlight

List of current and defunct automobile manufacturers of Italy. The Lamborghini Miura is a sports car that was produced by Italian automaker Lamborghini between 1966 and 1973. The car is widely considered to have instigated the trend of high performance, two-seater, mid-engined sports cars. At launch, it was the fastest production road car available.

Spotlight

List of current and defunct automobile manufacturers of Italy. The Lamborghini Miura is a sports car that was produced by Italian automaker Lamborghini between 1966 and 1973. The car is widely considered to have instigated the trend of high performance, two-seater, mid-engined sports cars. At launch, it was the fastest production road car available.

Related News

CONSTRUCTION

Trimble and HP Collaborate to Explore the Use of Robotic Technology for Autonomous Indoor Construction Layout

Trimble | November 09, 2022

Trimble (NASDAQ: TRMB) and HP are collaborating on the integration of Trimble's latest robotic total station with HP's new SitePrint robotic layout solution. The solution focuses on transforming the layout process for indoor construction projects. The construction industry faces a variety of challenges including the shortage of skilled workers and productivity. HP and Trimble can address these challenges with an integration of HP SitePrint and the recently introduced Trimble® Ri total station. The integrated solution can deliver an autonomous layout workflow that empowers efficiency and productivity on the job, while delivering layouts faster than traditional methods. Augmenting the contractors' work, SitePrint can avoid obstacles and print lines and complex objects with pinpoint accuracy and consistent repeatability. In addition, text printing capabilities bring additional data from the digital model to the construction site to prevent errors. Using optical technology, the precise positioning and navigation of HP SitePrint robot is driven by the Trimble Ri total station. Equipped with automatic level detection, self-calibration, and Trimble VISION™ technology for advanced tracking, the Trimble Ri enables the HP SitePrint robot to achieve autonomous, high-accuracy indoor layout work. "The integration of Trimble Ri and HP SitePrint can transform the layout process on complex construction sites with pinpoint accuracy, and in a fraction of the time, This is an opportunity for layout contractors to improve accuracy and productivity and handle more projects with the same size of team." -Aviad Almagor, vice president of Technology Innovation, Trimble. Technology adoption and increased digitization can help construction firms bridge this productivity gap, said Daniel Martínez, vice president and general manager, HP Large Format Printing. HP has played a key role in bridging digital and physical worlds with print solutions for architects and engineers over the last thirty years. With the integration between HP SitePrint and Trimble Ri, we can make it easier than ever for layout professionals to bring an idea to life on site, while also enabling increased digitization of the construction industry as a whole. About HP: HP Inc. is a technology company that believes one thoughtful idea has the power to change the world. Its product and service portfolio of personal systems, printers, and 3D printing solutions helps bring these ideas to life. About Trimble: Trimble is an industrial technology company transforming the way the world works by delivering solutions that enable our customers to thrive. Core technologies in positioning, modeling, connectivity and data analytics connect the digital and physical worlds to improve productivity, quality, safety, transparency and sustainability. From purpose-built products to enterprise lifecycle solutions, Trimble is transforming industries such as agriculture, construction, geospatial and transportation.

Read More

CONSTRUCTION

nVent HOFFMAN Software Will Simplify Engineering Processes and Connect Fabrication and Workers to Drive Productivity

Zuken | November 10, 2022

nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced it will preview its upcoming digital manufacturing software portfolio at Rockwell Automation Fair in Chicago. The Design to Manufacturing Software, powered by Zuken’s E3.series, is a proven and fast engineering system for designers and manufacturing personnel to: Plan and design the electrical engineering for machines and factory systems Automate panel building through 2D/3D design and assembly of industrial and commercial control panels nVent is a global leader in providing industrial enclosures and advanced cooling solutions, and has a comprehensive machine portfolio to automate panel building. The nVent HOFFMAN Design to Manufacturing Software, powered by Zuken, helps us to create time and labor savings, which enables us to build a more sustainable and electrified world. “By adding the Design to Manufacturing Software, powered by Zuken, we have significantly enhanced our value proposition by optimizing the entire panel design and fabrication process, Companies are prudently finding ways to maximize the skills of their workforce, especially in such a competitive landscape and tight job market. This will make it easier for our customers to deliver high-quality solutions faster, with fewer resources and time-consuming steps.” -Alexander van der Weide, general manager and vice president for nVent. We simplify design. We connect engineering to manufacturing. We simplify design We connect engineering to manufacturing We capture and deploy knowledge We solve the shortage of engineers and skilled labor We accelerate profitable growth The Design to Manufacturing Software provides design automation to help electrical engineers to simplify processes, and ultimately increase overall productivity. With its easy-to-use intelligent central parts library, designers can now efficiently work on a single project while the software automatically ensures the data is continually up to date, making the design and planning process easy. The optimized engineering process drives the creation of the digital twin with all the necessary manufacturing details. We automate the panel building process by connecting machines and workers, accelerating the transition to smart manufacturing. Workers can now easily visualize the design and immediately access digital documentation. This automated workflow detects critical errors, significantly improves the time taken to build a panel, and maintains the overall process. The advanced software portfolio will be released in 2023 as part of a collaboration with Zuken, a leading global software company specializing in optimizing electrical and electronic engineering design processes. The Design to Manufacturing software portfolio will include specially designed software packages for engineering and manufacturing processes, connecting workers to the manufacturing floor, and adding optional add-on functionalities. About nVent: nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER. About Zuken: Zuken is a global software company providing industry leading electrical and electronic design solutions. Founded in 1976, Zuken has a long track record of technology innovation and financial stability in the electronic design automation (EDA) industry. With a product portfolio of world-class design solutions spanning MBSE-based product definition and services to electrical and electronic design solutions to address the needs of a broad range of industries across the globe. These design solutions provide our customers with improved productivity and efficiencies in this highly competitive landscape.

Read More

CONSTRUCTION

Bectran’s Suite of Construction Job Sheet API Solutions will Further Support and Streamline Information

Bectran | November 11, 2022

Bectran, Inc., an industry leader providing cutting-edge credit, collections and accounts receivable automation software, has released a suite of API solutions to streamline the data transfer process between sales and credit departments when initiating or documenting construction job sheets, allowing for clearer oversight of information all in one central system. With this API suite, we have eliminated the need for sales professionals to leave their CRM in order to create, initiate, link or store construction job sheets in Bectran for the credit department’s review. These APIs will not require your sales team to have to learn a new system to keep work flowing from department to department. The enhanced construction job sheet APIs are designed to facilitate a simplified data transmission process between the Bectran platform and your current CRM, streamlining interdepartmental communication while maintaining consistent and accurate data. In the past, the construction job sheet initiation and documentation process involved the constant interchange of information between different applications, software or systems within the credit and sales teams. Companies without technology to supplement the data collection had it even worse, often requiring the manual input of data into multiple systems, which significantly heightened the probability of error. It was also an extremely time-intensive process, resulting in delays and, subsequently, dissatisfied customers. This combination of unhappy customers and overworked, burned-out teams only leads to further friction between departments and lost sales. More importantly, growing your company becomes nearly impossible because this redundant, repetitive, time-intensive process is difficult to maintain accurately at scale. That is precisely where Bectran identified a need for improved efficiency and established APIs so that sales teams no longer need to abandon your current CRM to initiate or store construction job sheets. Bectran makes it simple to capture existing project information and combine it with new data, all while remaining within your own CRM. These APIs can be called from the system that your sales team presently lives within for secure and instantaneous transmission of job data to the Bectran platform. “We recognized the need to have complete oversight of construction job sheet information in one system and the ever-present need for those processes to continue operating smoothly at scale. These APIs will improve the efficiency of your own existing workflow without having to become proficient in the intricacies of a new application.” -Louis Ifeguni, CEO of Bectran. Overall, these APIs will help facilitate more seamless interdepartmental communication while saving your teams time and resources to focus on more strategic business initiatives. The construction job sheet API suite is now available to our customers. To start using these APIs, please contact your product services specialist. About Bectran, Inc: Since its inception in 2010, Bectran has pioneered affordable credit management and accounts receivable automation solutions for all sizes of organizations. Bectran’s SaaS solutions — credit, collections and accounts receivable — provide seamless user experiences across various industries and empower users with robust credit evaluation services, putting you in control of your financial health. Our dedication to improving the efficiency of the order-to-cash cycle has helped companies cut down the time to process and approve credit by over 90% while significantly lowering the risk of default.

Read More