Timken Acquires The Diamond Chain Company
June 1, 2019
The Timken Company has acquired The Diamond Chain Company from Amsted Industries. Diamond Chain is a supplier of high-performance roller chains for industrial markets. The company serves a diverse range of sectors, including industrial distribution, material handling, food and beverage, agriculture, construction and other process industries. For the 12 months ended March 31, 2019, Diamond Chain posted sales of over $60 million.
"The acquisition of The Diamond Chain Company adds another strong industrial brand with a reputation for quality, reliability and performance to Timken's growing power transmission portfolio," said Richard G. Kyle, Timken President and CEO. "Diamond Chain is a premier brand in the North American distribution channel and is an excellent strategic fit with our Drives chain business. The acquisition expands our leadership in roller chain, builds on our strong position in distribution and adds depth to our manufacturing capabilities in Asia. We expect to drive significant synergies with the combination of Diamond Chain and Drives."
Founded in 1890 and headquartered in Indianapolis, IN, Diamond Chain has manufacturing operations in the U.S. and China. The company employs approximately 370 people.
For more information contact:
The Timken Company
4500 Mount Pleasant St NW
North Canton, OH 44720
234-262-3000
www.timken.com
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