The Timken Company, a global technology leader in engineered bearings and industrial motion, today appointed Tarak Mehta the company's president and CEO. Mehta was also elected to Timken's Board of Directors.

The Timken Company, a global technology leader in engineered bearings and industrial motion, has completed its previously announced acquisition of CGI, Inc., a Nevada-based manufacturer of precision drive systems serving a broad range of automation markets with a concentration in medical robotics. The business employs approximately 130 people and is expected to generate around $45 million in sales in 2024.  

The Timken Company has issued its corporate social responsibility (CSR) report, providing an update on the company's actions to improve the lives of individuals and communities, benefit the planet and strengthen its business.

The Timken Company recently announced the appointment of Todd M. Leombruno to its board of directors. The election will bring The Timken Company board to 11 members.

The Timken Company has agreed to acquire CGI Inc., a Nevada-based manufacturer of precision drive systems serving a broad range of automation markets with a concentration in medical robotics. The deal is subject to customary closing conditions, including regulatory approval, and is expected to close in the third quarter.

The Timken Company has been recognized among Newsweek's America's Greatest Workplaces and U.S. News & World Report's Best Companies to Work For. The Newsweek ranking is based on a study by data research firm Plant-A Insights, which collected over 1.5 million comprehensive company reviews from more than 250,000 employees. U.S. News determined its list using a combination of publicly available information, and industry classification benchmark standards.

The Timken Company board of directors has reached an agreement with Tarak Mehta to become Timken's next president and chief executive officer Sept. 5, 2024. Mehta is currently president of the Motion business and member of the Group Executive Committee at ABB Ltd., a $32 billion leader in electrification and automation. Mehta will be appointed Timken president and CEO after he completes a transition period with ABB.

The Timken Company was recognized by Newsweek as one of America's Greatest Workplaces for Diversity. The ranking is the result of a study conducted by data research firm Plant-A Insights, which interviewed over 223,000 employees in the United States and collected over 1.5 million comprehensive company reviews.

The Timken Company has acquired Lagersmit, a Netherlands-based manufacturer of highly engineered sealing solutions for demanding marine, dredging, water, tidal energy and other industrial applications.

The Timken Company has reached an agreement to acquire Engineered Solutions Group (a.k.a. Innovative Mechanical Solutions or iMECH), based in Houston, Texas. iMECH manufactures thrust bearings, radial bearings, specialty coatings and other components primarily used in the energy industry. The business employs approximately 70 people and projects revenue of approximately $30 million for calendar year 2023.