Timken India Agrees to Acquire ABC Bearings Ltd. - Modern Distribution Management

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Timken India Agrees to Acquire ABC Bearings Ltd.

The transaction will further expand Timken's global reach.
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Timken India Ltd., a majority-owned subsidiary of The Timken Co. (NYSE: TKR), North Canton, OH, has agreed to acquire ABC Bearings Ltd., a manufacturer of tapered, cylindrical and spherical roller bearings, and slewing rings in India. Terms were not disclosed.

The transaction is structured as a merger of ABC Bearings Ltd. into Timken India Ltd., whereby shareholders of ABC Bearings will receive shares of Timken India as consideration.  The transaction is subject to receipt of various approvals in India, which are expected to take at least six months to complete.

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