Timken to Acquire European Manufacturer Spinea.
MANews-(C)2009-2022
US-based bearings and power transmission products producer The Timken Company (NYSE: TKR) has reached an agreement to acquire Slovakian cycloidal reduction gears and actuators manufacturer Spinea, s.r.o., the company said.
Spinea's solutions primarily serve high-precision automation and robotics applications in the factory automation sector.
Spinea sales are expected to be around USD 40m for the full year 2022.
In recent years, Timken has diversified its portfolio by expanding its power transmission products and services.
This includes the acquisitions of both Rollon and Cone Drive, which deliver technologies for robotics and automation applications.
Spinea complements Cone Drive's precision gearing business and further advances the company's product offering and commitment to customer-centric innovation.
Spinea will further scale Timken's position in automation, which was the company's...
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