(TKR) Timken Buys Smith Services Assets

The Timken Company (TKR), a producer of anti-friction bearings and steel, recently acquired the assets of privately held Smith Services Inc. The value of the acquisition was not made public. Based in Princeton, W.Va., Smith Services is an electric motor repair specialist. The company repairs and rewinds 200 to 3,500 horsepower range electric motors along with undertaking on-site analysis and repairs. Smith Services has its operations scattered over seven states in the region, where it serves the power generation, paper, steel, petrochemical, nuclear and mining markets. The repair business of Smith Services complements that of Timken, making it easier to integrate the two. This acquisition of Smith Services is expected to help Timken expand its reach geographically as well, considering that Smith Services is located at the heart of the