Standard president and CEO Greg Porter to lead Timken's Canadian business
CANTON, Ohio—Industrial technology firm Timken says it has acquired Saskatchewan-based Standard Machine.
Standard Machine, which employs 125 in Saskatoon, Sank., serves a variety of industrial sectors including mining, oil and gas and pulp and paper, and provides new gearboxes, gearbox service and repair, open gearing, large fabrication, machining and field technical services to customers throughout Canada and the western United States.
Terms of the deal were not disclosed.
“Standard Machine’s location near energy and mineral resources, coupled with their strong technical team and service culture, provide an excellent platform to drive long-term growth in our business,” Timken’s vice-president of industrial services Carl D. Rapp said in a statement.
The acquisition was part of Timken’s strategy to expand its gearbox and bearing repair service into Canada.
Greg Porter, president and CEO of Standard Machine, will lead Timken’s business in Canada.
Last year Standard Machine reported sales of approximately $31-million.