"Timken is a leader in the growing Indian bearing market, and the acquisition of ABC Bearings will expand our capacity, our customer base and our locally produced product breadth," said Richard G. Kyle, Timken president and chief executive officer. "In addition, we expect to leverage ABC Bearings' competitive manufacturing footprint to serve export markets."

ABC Bearings is a listed company with manufacturing facilities in Bharuch, Gujarat, and Dehradun, Uttarakhand. It generated sales of about US$29 million in 2016, Timken said. 

The deal is pending approval from Indian authorities.