The Timken Company (NYSE: TKR), North Canton, OH, has agreed to acquire the Carlstar Belts business, Springfield, MO, from private equity firm American Industrial Partners.
The belts manufacturer has 750 employees and sales for the 12 months ending June 30 of $140 million.
"Acquiring the Carlstar Belts business expands our offering in existing and complementary end markets and broadens our ability to bring customers a diverse package of premium mechanical power transmission products and services," said Richard G. Kyle, Timken president & CEO.
