Timken Expands Aerospace Aftermarket Position with EXTEX Acquisition
11/04/2008 - Timken acquires the assets of EXTEX, a leading designer and marketer of high-quality replacement engine parts for the aerospace aftermarket.
The Timken Co. has acquired the assets of EXTEX Ltd., a leading designer and marketer of high-quality replacement engine parts for the aerospace aftermarket.
Gilbert, Ariz., based EXTEX was founded in 1995 to address the growing need for high-quality replacement engine parts, including compressor and turbine blades and vanes, shrouds, nozzles and gears. Throughout its 13 years of business, EXTEX had expanded its portfolio of PMA designs to serve three families of engines, including Rolls-Royce 250, Pratt & Whitney Canada PT6 and Honeywell auxiliary power units.
"The combination of EXTEX’s knowledge and engineering expertise with Timken’s manufacturing capabilities make it a great addition to Timken's growing aerospace aftermarket solutions business," said J. Ron Menning, President—Aerospace and Defense. "As we accelerate our growth in this strategic market sector, we will continue to extend our capabilities to meet the needs of our expanding aerospace customer base.”
With the acquisition, Timken will add most of EXTEX’s nearly 600 Federal Aviation Administration (FAA) parts manufacturer approval (PMA) components to its existing portfolio of more than 1400 PMAs. The expanded PMA base will position Timken to offer even more comprehensive fleet-support programs, including asset management that maximizes uptime for aircraft operators.
Terms of the acquisition were not disclosed.
EXTEX Ltd., a designer and marketer of high-quality replacement engine parts for the aerospace aftermarket, had sales of approximately $15.4 million in 2007.
Timken provides innovative friction management and power transmission products and services. Its approximately 25,000 employees generated sales of $5.2 billion in 2007 from its operations in 27 countries.
