- Timken Co (NYSE:TKR) stated it is experiencing strong growth in its linear motion product line, with 2021 sales expected to increase by more than 20% year-over-year.
- Timken diversified its power transmission portfolio with the acquisition of Rollon in 2018. Rollon has expanded growth opportunities in market sectors such as robotics and automation.
- The company expects secular trends and targeted initiatives to drive strong organic sales growth in linear motion products, with an estimated double-digit compound annual growth rate (CAGR) through 2025.
- “The acquisition of Rollon enabled our successful entry into the linear motion market sector, and its unique offering has led to big wins – for Timken and the industry partners we serve through these products,” commented Hans Landin, Timken group VP.
- Price Action: TKR shares are trading higher by 2.32% at $70.63 on the last check Tuesday.
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