The Timken Company has entered into an agreement with Permatex

CANTON, Ohio, July 24 -- The Timken Company has entered into an agreement with Permatex, Inc. to sell its range of automotive and maintenance products in Southeast Asia, Australia and New Zealand.

Permatex Inc. offers a range of products that include leading brands like Fast Orange(R) Hand Cleaner, the Ultra(R) Silicone gasketing products, the Right Stuff(R) Gasket Maker, NOS(R) fuel and fluid additive products, No Touch(R) tire and wheel care products and Slik-Pak(R) lubricants. Product will be stocked in Timken warehouses in Australia and Singapore and sold throughout Asia through the Timken network of authorized distributors.

"Partnering with Permatex in this way is consistent with our goal of profitable growth through related products," said Alastair Simkin, general manager - Asia Pacific, Middle East and Africa - Timken. "This agreement brings together two companies that are known for providing high performance automotive products. It combines Permatex's superior products with The Timken Company's logistics and distribution expertise to bring end users in Asia the products they demand."

Permatex became an independent, privately-owned company in 1999 through a leveraged buyout from parent Loctite. As a result, the company is establishing a new distribution channel for its product in Asia. "The transition back to an independent automotive products business has been smooth. Establishing relationships like this distribution agreement with Timken ensures that our customers will have local availability of our products," said Pat Formica, president - Permatex. "We are entering an exciting phase of global growth through product and market development and have a five-year plan to transform and triple our business."

The Timken Company ( http://www.timken.com ) is a leading international manufacturer of highly engineered bearings, alloy and specialty steels and components, as well as a provider of related products and services. With operations in 24 countries, the company employs about 20,000 people worldwide and recorded 2000 sales of U.S. $2.6 billion.