The Timken Company, an engineered bearings and power transmission products firm, has reached an agreement to acquire Cone Drive, a specialist in precision drives used in diverse markets including solar, automation, aerial platforms and food and beverages.
Cone Drive sales are expected to be slightly above $100 million for the full year 2018. It is headquartered in Traverse City, Michigan, U.S., and has manufacturing operations in the United States and China. The company employs approximately 500 people.
The business produces a broad range of highly customisable precision drive products that include Cone Drive and H-Fang branded high-torque worm gears, harmonic solutions and precision slew drives.