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The Timken Company Acquires British Tube Manufacturer

7 December 1998

The Timken Company Acquires British Tube Manufacturer

    CANTON, Ohio, Dec. 7 -- The Timken Company
announced today that it has acquired Desford Steel Tubes Ltd., a steel-tubing
manufacturer in Leicester, England.  The subsidiary will operate as Timken
Desford Steel Ltd.
    "The acquisition builds on our core competencies as a manufacturer of
highly engineered steels," said Bill J. Bowling, executive vice president,
chief operating officer and president -- steel.  "It provides the platform for
continued selective growth of our steel business outside the U.S. where we can
demonstrate our long-term commitment to increasing shareholder value."
    Desford, which was owned by the Hay Hall Group, began operations in 1942.
The company produced and sold $80 million of seamless mechanical tubing in
1997 for bearing, automotive, off-highway and defense applications.
    "The facility complements our existing tube-making operations and will
allow us to serve new customers in industries we know well," said  Karl P.
Kimmerling, group vice president -- alloy steel. "Like Timken(R) steel tubes,
Desford product is known for its quality and will fit well with our product
mix."
    Timken steel products, including bars, tubes and precision steel
components, are highly engineered for specialty applications.  The Timken
Company (http://www.timken.com) is a leading international manufacturer
of highly engineered bearings and alloy steels with operations in
25 countries.  The company employs 21,000 people worldwide and reported 1997
sales of more than U.S. $2.6 billion.