March 7, 2016
The Timken Company (NYSE: TKR; www.timken.com), a global leader in bearings, has been recognized for the sixth time by the Ethisphere® Institute as one of the world's most ethical companies.
Timken is one of 131 organizations selected as a 2016 World's Most Ethical Company®. The designation recognizes companies that promote ethical business standards and align principle with action.
"We are proud to be recognized with this distinction, and we strive to demonstrate the highest ethical principles every day," said Richard G. Kyle, Timken president and CEO. "As we grow around the world, we ensure all Timken associates, as well as those who represent our company, understand our long-standing commitment to our core value of ethics and integrity, and we expect them to conduct every aspect of our business with integrity."
The Ethisphere Institute advances the global conversation on corporate ethics, responsibility and leadership. It has developed a framework that assesses an organization's performance in an objective, consistent and standardized way. Scores are generated in five categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%).
"Companies that demonstrate leadership in areas like citizenship, integrity and transparency create more value for their investors, communities, customers and employees, thus solidifying a sustainable business advantage," explained Timothy Erblich, CEO of Ethisphere.
The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World's Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere magazine. More information about Ethisphere can be found at: ethisphere.com.
The Timken Company (NYSE: TKR; www.timken.com) engineers, manufactures and markets bearings, gear drives, belts, chain and related products, and offers a spectrum of powertrain rebuild and repair services. The leading authority on tapered roller bearings, Timken today applies its deep knowledge of metallurgy, tribology and mechanical power transmission across a variety of bearings and related systems to improve reliability and efficiency of machinery and equipment all around the world. The company's growing product and services portfolio features many strong industrial brands including Timken®, Fafnir®, Philadelphia Gear®, Carlisle®, Drives® and InterlubeTM. Known for its quality products and collaborative technical sales model, Timken posted $2.9 billion in sales in 2015. With more than 14,000 employees operating from 28 countries, Timken makes the world more productive and keeps industry in motion.
Shelly Chadwick, Vice President – Treasury & Investor Relations