Timken acquires Saskatchewan gearbox firm
Saskatoon, SK - Standard Machine of Saskatoon, SK, has been acquired by the Timken Company of Canton, OH.
Saskatoon, SK – Standard Machine of Saskatoon, SK, has been acquired by the Timken Company of Canton, OH.
The agreement brings Timken Industrial Services additional gearbox repair and a new regional service centre location for bearing reconditioning.
Standard Machine provides new gearboxes, gearbox service and repair, open gearing, large fabrication, machining and field technical services to end users in Canada and the western United States.
The company serves a wide variety of industrial sectors, including mining, oil and gas, and pulp and paper. In 2012, Standard Machine reported sales of approximately $31 million. The price paid for the company by Timken was not revealed.
“The acquisition of Standard Machine further advances our strategy to expand our industrial services capabilities,” said Carl D. Rapp, vice-president of industrial services for Timken. “As a respected power transmission company in Canada, Standard Machine provides Timken with a great location and robust gear-making and machining skills, which differentiates them in key target market sectors.”
Rapp added, “Standard Machine’s location near energy and mineral resources, coupled with [its] strong technical team and service culture, provide an excellent platform to drive long-term growth in our business.”
“Timken, through the acquisition of Standard Machine, is investing in Canada,” said Timken Canada LP general manager Frank Mascia. “The management teams at Timken and Standard Machine will continue to manage our businesses with a focus on growth. The Standard Machine management team is part of this new agreement and is part of our growth plans,” Mascia added.
Greg Porter, president and CEO of Standard Machine, will lead the business in Canada on behalf of the industrial services group within The Timken Company’s Process Industries segment.
Earlier this year, Timken acquired the assets of Wazee Companies LLC, headquartered in Denver, CO, and Smith Services Inc., based in Princeton, WV, as part of the company’s plan to expand its industrial services capabilities.
Standard Machine is the business name of Hamilton Gear Ltd. Originally founded in 1967, the business now operates from a 110,000 square foot facility in Saskatoon and employs 125 people. For more information, visit www.standardmachine.ca.