ABC Bearings Ltd. to Merge with Timken India Ltd.,
ABC Bearings Ltd. and Timken India Ltd., a subsidiary of The Timken Company, a world leader in engineered bearings and mechanical power transmission products, have announced a definitive agreement to merge the entities through a court-approved amalgamation process. ABC Bearings is a manufacturer of tapered, cylindrical and spherical roller bearings, and slewing rings.
This transaction is subject to receipt of approvals by each company’s shareholders, regulatory agencies and the stock exchanges, which is expected to occur over the next several months.
About ABC Bearings Ltd.
ABC Bearings is a public limited company listed on the BSE Limited with its registered office in Mumbai, India. The company operates primarily out of manufacturing facilities in Bharuch, Gujarat, and Dehradun, Uttarakhand. ABC Bearings serves an established original equipment customer base in India, focusing on heavy truck and off-highway industries.
About Timken India Ltd.
Timken India Ltd. (BSE: TIL; www.timken.com/en-in), a subsidiary of The Timken Company, is a public limited company listed on the National Stock Exchange of India Limited and BSE Limited. Timken India local operations include a state-of-the-art bearing manufacturing facility in Jamshedpur, Jharkhand, and gear service center in Raipur, Chattisgarh.