NEW YORK Timken Co. has purchased Interlube Systems Ltd. as part of its continued push to diversify into new markets, the steel and bearings manufacturer said.
Interlubewhich is based in Plymouth, England, and has an operation in Dayton, Ohio, and a joint venture in Chinaproduces automated lubrication delivery systems and related components for a variety of end-use sectors, including commercial vehicles, construction, mining, and heavy and general industries, Timken said. The acquisition also includes Interlube subsidiary MSP Distributors Ltd., based in Cheltenham, England, which designs, installs and repairs lubrication systems.
The purchase will complement Timkens existing power transmission products portfolio, as well as provide new expansion areas for the company, it said.
Their expertise and quality product line, coupled with our global reach and market access, will allow us to grow market share for Interlube products, as well as expose new market space for existing Timken applications, Timken vice president of distribution Michael J. Connors said in a statement.
Interlube posted 2012 sales of about $13 million, Canton, Ohio-based Timken said.