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.
Outgrow 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
Operate 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
Optimize capital deployment
- Invest in organic growth and productivity initiatives
- Maintain attractive dividend
- Increase strategic and financial value through adjacent acquisitions
- Return capital through share repurchases
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.