The Timken Company (NYSE:TKR) has received a $6.5 million contract to supply rail bearings for freight cars built by Titagarh Wagons Ltd. in India.
Titagarh has ordered Timken® APTM Class E tapered bearings, which enable rail users to carry heavier loads with more stability. Titagarh is the second-largest private builder of freight cars in India.
The rail bearings are being manufactured at Timken’s production facility in Jamshedpur, India. As part of its ongoing investment in India, Timken plans to open a second Indian production facility in Chennai in 2008.
“Timken’s strategy of investing in India is to serve our global customers and also to gain new local customers such as Titagarh Wagons in this rapidly developing market,” said David L. White, director of sales and marketing for Timken’s operations in India.
“Our past experience with Timken has shown us they make outstanding products, and we also value their follow-up service after the sale,” said J.P. Chowdhary, chairman and managing director of Titagarh Wagons Ltd. “Our relationship with Timken makes us more competitive, and we also appreciate their reputation for adhering to high ethical standards.”
About Titagarh Wagons Ltd.
Titagarh Wagons Ltd. (TWL) (web site: www.titagarh.biz) is one of the largest private sector manufacturers of freight wagon units for Indian and some overseas railways. TWL is a heavy engineering goods manufacturing company in Kolkata, India. TWL manufactures a wide range of freight wagons, container flats and specialty wagons for industrial and defense use. TWL manufactures Bailey Bridges, prefabricated shelters and similar systems for the railways and the defense sector. TWL also manufactures Heavy Earthmoving Equipment including Heavy Duty Mobile Cranes and Excavators.
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.
Gloria Irwin, 330-471-7948
Manager – Trade Media Relations
Steve Tschiegg, 330-471-7446
Manager – Investor Relations
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