Capturing Opportunities and Expanding Reach
Timken expands into new and existing markets by leveraging its collective knowledge of metallurgy, friction management and mechanical systems to create value for our customers. Using a highly collaborative technical selling approach, we place particular emphasis on creating unique solutions for challenging and demanding applications.
Performing With Excellence
Timken operates with a relentless drive for exceptional results and a passion for superior execution. We embrace a continuous improvement culture that is charged with increasing efficiency, lowering costs, eliminating waste, encouraging organizational agility and building greater brand equity to fuel future growth. This requires our ongoing commitment to attract, retain and develop the best talent across the world.
Investing In What Matters
Timken is intently focused on providing the highest returns for shareholders through its capital allocation framework, which includes investing in the core business through capital expenditures, research and development and organic growth initiatives like DeltaX; pursuing strategic acquisitions to broaden our portfolio and capabilities, with a focus on bearings, adjacent power transmission products and related services; and returning capital to shareholders through share repurchases and dividends.
Timken associates work collaboratively on behalf of our customers, suppliers, communities and shareholders to win in the marketplace. Every day, they contribute to our ongoing success. By fostering an inclusive workforce where all associates are energized and participate, we advance current initiatives and enhance our ability to grow, compete and win as an organization and as individuals. We take pride in our corporate culture, built on a foundation of strong core values and an unwavering belief that Timken associates are our greatest resource.
Timken Business Model
We drive our strategy using the Timken Business Model, leveraging our competitive differentiators and strengths to create customer and shareholder value through increased growth and profitability.
The Timken Business Model keeps our team centered on creating long-term value and achieving our vision of being the global leader in engineered bearings, mechanical power transmission products and related services.
The model defines the strengths that differentiate Timken: technology and know-how in materials, friction management and mechanical systems, business capabilities that provide excellent customer service at world-class efficiency levels, operational excellence and the best talent in our industry.
As this model guides us across the enterprise, the Timken team performs within an operating framework that drives industry-leading quality, customer service, environmental health and safety and cost competitiveness. Combined with our continuous improvement culture, we innovate our manufacturing, engineering and quality processes to benefit Timken customers and drive improvements to the bottom line.
To competitively address global demand, we continue to optimize our footprint while expanding our reach for future growth. Through our business processes and operational excellence, we continue to reduce our SG&A costs in total and as a percent of sales. In operations, we reduce costs through productivity improvements, new manufacturing process technologies and product designs, lower material costs and restructuring.
Executing Our Strategy
Timken leverages its competitive differentiators and strengths to create customer value that drives increased profitability by performing with excellence, driving effective capital deployment, capturing opportunities and expanding reach.
Outgrowing our Markets
- Be the technical leader in solving customers’ friction and power transmission challenges
- Expand both our product portfolio and geographic presence
- Deliver an exceptional customer service experience including a differentiated technical sales model
Operating with Excellence
- Drive enterprise-wide lean and continuous improvement efforts
- Build a more cost-effective global manufacturing footprint
- Deliver efficiencies across our supply chains
- Optimize processes and SG&A efficiency
Deploying Capital to Drive Shareholder Value
- Invest in organic growth and productivity initiatives
- Maintain attractive dividend
- Increase strategic and financial value through adjacent acquisitions
- Return capital through share repurchases