Timken acquisition haidai DE chain company, strengthen leadership in the field of high-end industrial chain

Timken recently announced that it had to Ann s&d industrial group, amst行业) Acquisition of companies adai au DE chain ( 钻石连锁公司) 。 Adai au DE chain co. , LTD. Is a industry market's leading supplier of high-performance roller chain. The company services in many industries, including industrial distribution, material transportation, food and beverage industry, agriculture, construction and other processing. As of March 31, 2019, adai au released by the chain company fiscal year sales of more than $60 million. 'Acquisition of the company of the chain to adai union makes timken expanding power transmission product lineup and added to a strong brand is famous for its high quality, reliable and high performance. 'Timken, President and chief executive Richard G. Kyle said, 'adai au DE chain is North America's high-end brand, distribution channels, and our Drives the chain business has a high strategic fit. This acquisition will strengthen our leading status in the market of roller chain, strengthen our advantages in the field of distribution and extend our manufacturing capacity in Asia. We want adai au, the combination of the chain and Drives the chain business can produce significant synergies. 'Adai au DE chain company was founded in 1890, is headquartered in Indianapolis, indiana, USA, in the United States and China have a production base. Company existing staff of about 370 people. After acquisition of companies adai au DE chain, iron, Ken power transmission products for the company contribution to revenue will account for about a third of the total. Timken plan adai au operating performance of the company of chain processing equipment industry will become the main business department report. This acquisition funds mainly come from cash on hand and cash in existing credit channels of financing. Timken is expected to be in 2019 years after the acquisition should be brought into the adjustment.