Timken makes Forbes Platinum 400 list on financial strength
Canton, OH -- The Timken Company marked its fourth time on this year’s Forbes Platinum 400, the magazine&rs...
Canton, OH — The Timken Company marked its fourth time on this year’s Forbes Platinum 400, the magazine’s 11th annual compilation of the ‘Best Big Companies’, released for the Jan. 12, 2009, issue of the magazine and published online at www.forbes.com/2008/12/22/best-big-companies-biz-cz_sd_bigcompanies08_1222land.html.
Standouts for the list were more difficult to spot this year than in the past, as a majority of public companies experienced slowing growth and negative stock returns by the end of 2008. Editors realized they could not rely on prior results as an indication of how companies might perform in the future, and decided it was more important to focus on financial strength, noting in the article, “This year, in particular, in our final selection process, we paid close attention to each company’s debt-to-total-capital level.”
Forbes rated Timken’s financial condition as “strong,” as Timken’s balance sheet, sales and earnings growth were positive factors contributing to the company’s inclusion. “Timken is a financially conservative company with a strong balance sheet,” said Glenn Eisenberg, Timken executive vice-president of finance and administration. “We have sufficient liquidity and have maintained a balanced investment approach to grow and optimize our business for the long term.”
Some other companies on the Forbes list that serve the MRO aftermarket include Applied Industrial Technologies (listed for the sixth year in a row), Danaher, Emerson Electric, ExxonMobil, Flowserve, Genuine Parts (which owns Motion Industries), WW Grainger, Kaman, Lincoln Electric, Lubrizol, Snap-on and 3M.