Timken Leverages Rollon Brand For Growth In Linear Motion - Timken (NYSE:TKR)

Timken Co (NYSE:TKR) stated it is experiencing strong growth in its linear motion product line, with 2021 sales expected to increase by more than 20% year-over-year.
Timken diversified its power transmission portfolio with the acquisition of Rollon in 2018. Rollon has expanded growth opportunities in market sectors such as robotics and automation.
The company expects secular trends and targeted initiatives to drive strong organic sales growth in linear motion products, with an estimated double-digit compound annual growth rate (CAGR) through 2025.
"The acquisition of Rollon enabled our successful entry into the linear motion market sector, and its unique offering has led to big wins – for Timken and the industry partners we serve through these products," commented Hans Landin, Timken group VP.
Price Action: TKR shares are trading higher by 2.32% at $70.63 on the last check Tuesday.

To add Benzinga News as your preferred source on Google, click here.