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Timken Named to Forbes Platinum 400 List
01/14/2009 - Timken is named to this year’s Forbes Platinum 400, the magazine’s 11th compilation of the list and Timken’s fourth time to be included on it.
The Timken Co. has once again been named to the Forbes Platinum 400, Forbes magazine’s compilation of the “Best Big Companies.”
Timken’s inclusion in the magazine’s 11th annual Forbes Platinum 400, which will be released for the magazine’s Jan. 12, 2009 issue, will be the company’s fourth time to achieve the honor.
Forbes editors faced a more difficult task than usual when making their selections for this year’s list, as a majority of public companies experienced slowing growth and negative stock returns by the end of 2008. Rather than relying on prior results as an indication of how companies might perform in the future, the editors decided it was more important to focus on financial strength, noting in the article, “This year, in particular, in our final selection process, we paid close attention to each company's debt-to-total-capital level.”
Forbes rated Timken’s financial condition as "strong," with Timken's balance sheet, sales and earnings growth serving as positive factors contributing to the company’s inclusion.
“Timken is a financially conservative company with a strong balance sheet," said Glenn Eisenberg, Timken Executive Vice President of Finance and Administration. "We have sufficient liquidity and have maintained a balanced investment approach to grow and optimize our business for the long term.”
Timken provides innovative friction management and power transmission products and services. The company’s approximately 25,000 employees generated sales of $5.2 billion in 2007 from its operations in 27 countries.
