TIMKEN Company Merged US BSI Company Successfully

Shanghai, China, February 29th, 2008 - The Timken Company (NYSE: TKR) announced that it has reached an agreement in property acquisition of Boring Specialties Inc. (BSI). The company is a leading provider of series drilling and refining products of sophisticated deep well oil and gas. The company is headquartered in Houston, Texas, USA. In 2006, annual sales of BSI was about 48 million U.S. dollars, with 190 employees.
Through this acquisition, timken bearings will add BSI's value-added products to its steel product line which is special in oil and natural gas customers. This will further strengthen the Timken Company’s place in the energy development market.
BSI company in 1972 was founded by Charlie Elder. It mainly faced to oil and gas industry and producted the value-added products and supporting components for drilling deep-hole. Timken steel used in a series of BSI products. Elder will continously take the position of president of new business entities after the acquisition completed successfully
Salvatore J. Miraglia, Timken Steel Group President said," Oilfield environment on Earth can be regarded as the most harsh operating environments. TIMKEN bearing and BSI company can provide successful products them needed. When human want to explore further of new energy reserves, we believe that we can join hands with customers, combined the strength of the two sides to seize the opportunities for development. TIMKEN Company's energy and power solutions covers from wind turbine gear box to energy exploration and other applications. The TIMKEN Company chould provide high-quality steel products in order that the equipment coule withstand the extreme environments under the earth surface. Trough it, TIMKEN could help customers face challenges the harsh conditions in the oil and gas drilling.