The Timken Company (NYSE:TKR) announced today that its German operations were recognized as the best supplier of 2006 by Parker Hannifin GmbH & Co. KG. Timken has been supplying needle bearings to the hydraulic pump and motor division in Chemnitz, Germany, for four years.
The Parker award acknowledges Timken's full compliance with agreed delivery dates for the year. Timken was the only one of 34 suppliers included in the rating system to satisfy the rigorous criteria. Timken needle bearings are installed in hydraulic torque motors for professional lawn mowers and rope winches.
"Helping our customers improve their performance is a top priority at Timken, and meeting their delivery deadlines is one clear way Timken brings value as a supplier," said Paul Schulte, manager of industrial and original equipment sales in Europe Central. "This award serves as an incentive for us to maintain, if not improve, our high standards and continue to reinforce our long-term relationship with Parker Hannifin."
Sylke Feiereis, team buyer and planner at Parker in Chemnitz, said, "During the past four years we have always been satisfied with Timken's delivery and quality performance. This award is a clear reflection of our approval."
About Parker Hannifin Corporation
Parker Hannifin GmbH & Co. KG is a subsidiary of Parker Hannifin Corporation. With annual sales exceeding $9 billion, Parker Hannifin Corporation is the world's leading diversified manufacturer of motion and control technologies, providing systematic, precision-engineered solutions for a wide variety of commercial, mobile, industrial and aerospace markets.
About The Timken Company
The Timken Company (NYSE:TKR, http://www.timken.com) keeps the world turning, with innovative friction management and power transmission products and services, enabling our customers to perform faster and more efficiently. With sales of $5.0 billion in 2006, operations in 26 countries and approximately 25,000 employees, Timken is Where You Turn™ for better performance.