Timken To Buy Philadelphia Gear For $200M

Law360, Wilmington (May 27, 2011, 3:13 PM EDT) -- Auto parts maker Timken Co. announced a $200 million deal on Friday to acquire Philadelphia Gear Corp., extending the company’s reach in the industrial services market.

King of Prussia, Pa.-based Philadelphia Gear makes industrial gear drives and offers onsite repair and technical services. The company had $85 million in sales for the year ending March 31, 2011.

“The acquisition advances Timken’s strategy to offer comprehensive services and solutions to end-users that enhance the performance and productivity of their mission-critical mechanical applications,” the company said in a...
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