Timken Corporation to sell Kilian facilities

Timken Corporation to sell Kilian facilities

Timken Corporation has recently announced that it has signed an agreement to sell Kilian Manufacturing Corporation and its affiliate Kilian Canada ULC to an affiliate of Genstar Capital LP and the members of Kilian management team. Kilian produces various kinds of bearings used in automotive and other industries. Kilian reported net sales of $40 million in 2003. Kilian was acquired by Torrington Company in 1975 and Timken acquired Torrington Company in 2003.