Timken Acquires Wazee Companies, LLC; Expands Industrial Service Offerings

  Timken Acquires Wazee Companies, LLC; Expands Industrial Service Offerings

Denver-based business provides electrical and mechanical solutions

PR Newswire

CANTON, Ohio, Jan. 2, 2013

CANTON, Ohio, Jan. 2, 2013 /PRNewswire/ --The Timken Company (NYSE: TKR;
www.timken.com) today announced its acquisition of the assets of
WazeeCompanies,LLC, a regional leader providing motor, generator, wind and
industrial crane services to diverse end markets including oil and gas, wind,
agriculture, material handling and construction. The addition of Wazee to
TheTimkenCompany's process industries segment further expands the footprint
of the Timken industrial services business.

(Logo: http://photos.prnewswire.com/prnh/20100210/TIMKENLOGO )

Based in Denver, Colo., Wazee had trailing 12-month sales through
December2012 of approximately $30million. The acquisition brings Timken
additional diversified services including motor rewind, generator rebuild,
electric controls, industrial bridge cranes and uptower wind maintenance and
repair, operating from four western U.S. locations.

"We continue to focus our strategy on further diversifying the Timken services
portfolio," said Carl Rapp, vice president of industrial services for Timken.
"Wazee complements our industrial repair capabilities at existing customers
and takes us into critical motor and generator services.

"Wazee has a strong reputation in the region it serves and is led by an
experienced management team," said Rapp. "They bring great technical skills
and provide an excellent footprint for us to expand our bearing and gearbox
repair services." Wazee currently operates out of four locations—two in the
Denver area, one in Pasco, Wash., and another in Casper, Wyo. Wazee has more
than 100 employees.

The purchase includes assets from Wazee's 2011 acquisition of
H&NElectric,Inc., which also offers repair, maintenance and overhaul
services for critical motors and wind generators in the Pacific Northwest
region.

About Wazee Companies, LLC

Wazee Companies, LLC, (www.wazeeco.com) is recognized for its quality,
reliable service and workmanship repairing electric motors and generators,
crane manufacturing and wind turbine service. Based in Denver, Colo., Wazee
provides electrical and mechanical solutions to aerospace, manufacturing,
municipalities, mining, power generation, oil and gas and other heavy
industrial customers.

About The Timken Company

The Timken Company (NYSE: TKR), a global industrial technology leader, applies
its deep knowledge of metallurgy, friction management and power transmission
to improve the reliability and efficiency of machinery all around the world.

The company engineers, manufactures and markets mechanical components and
high-performance steel. Timken^® bearings, engineered-steel bars and tubes—as
well as transmissions, gearboxes, chain and related products and
services—support diversified markets worldwide.

With sales of $5.2 billion in 2011 and approximately 21,000 people operating
from 30 countries, Timken makes the world more productive and keeps industry
in motion.

Media Contact: Dan Minnich
Communications Manager
1835 Dueber Avenue, S.W.
Canton, OH 44706-0927 U.S.A.

Telephone: (330)471-7760
dan.minnich@timken.com

Investor Contact: Steve Tschiegg
Director – Capital Markets & Investor Relations
1835 Dueber Avenue, S.W.
Canton, OH 44706-0927 U.S.A.

Telephone: (330)471-7446
steve.tschiegg@timken.com

SOURCE The Timken Company

Website: http://www.timken.com
Website: http://www.wazeeco.com
 
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