Capturing Opportunities and Expanding Reach
Timken expands into new and existing markets by leveraging its collective knowledge of metallurgy, friction management and mechanical systems to create value for our customers. Using a highly collaborative technical selling approach, we place particular emphasis on creating unique solutions for challenging and demanding applications.
Performing With Excellence
Timken operates with a relentless drive for exceptional results and a passion for superior execution. We embrace a continuous improvement culture that is charged with increasing efficiency, lowering costs, eliminating waste, encouraging organizational agility and building greater brand equity to fuel future growth. This requires our ongoing commitment to attract, retain and develop the best talent across the world.
Investing In What Matters
Timken is intently focused on providing the highest returns for shareholders through its capital allocation framework, which includes investing in the core business through capital expenditures, research and development and organic growth initiatives like DeltaX; pursuing strategic acquisitions to broaden our portfolio and capabilities, with a focus on bearings, adjacent power transmission products and related services; and returning capital to shareholders through share repurchases and dividends.
Timken Business Model
We drive our strategy using the Timken Business Model, leveraging our competitive differentiators and strengths to create customer and shareholder value through increased growth and profitability.
The Timken Business Model keeps our team centered on creating long-term value and achieving our vision of being the global leader in engineered bearings, mechanical power transmission products and related services.
The model defines the strengths that differentiate Timken: technology and know-how in materials, friction management and mechanical systems, business capabilities that provide excellent customer service at world-class efficiency levels, operational excellence and the best talent in our industry.
As this model guides us across the enterprise, the Timken team performs within an operating framework that drives industry-leading quality, customer service, environmental health and safety and cost competitiveness. Combined with our continuous improvement culture, we innovate our manufacturing, engineering and quality processes to benefit Timken customers and drive improvements to the bottom line.
To competitively address global demand, we continue to optimize our footprint while expanding our reach for future growth. Through our business processes and operational excellence, we continue to reduce our SG&A costs in total and as a percent of sales. In operations, we reduce costs through productivity improvements, new manufacturing process technologies and product designs, lower material costs and restructuring.