Timken acquires QM Bearings and Power

(From:CMB-CETA Editor)

Timken Co., which makes bearings, seals, lubricants and other products for machinery, said Monday it is acquiring Ferndale, Wash.-based QM Bearings and Power Transmission Inc.

Terms of the deal weren't disclosed.

QM Bearings makes steel products used in processes such as sawmill and logging operations. Timken said QM will help it expand its penetration into high-performance applications and extend its power transmission capabilities.

QM posted sales of more than $14 million in the past year, Timken said. Canton-based Timken had sales of $3.1 billion last year.

Timken expects to close on the sale in the fourth quarter, barring any objections from regulators. It expects the deal to add to earnings in the first full year after completion.

Timken shares rose 29 cents to $27.60 in afternoon trading.