Timken's Philadelphia Gear to Supply Critical Components for U.S. Navy Frigate Program

<p style="text-align: center;"><img title="1609132674442969.jpg" alt="5.jpg" src="/ueditor/php/upload/image/20201228/1609132674442969.jpg"/></p><p>The Timken Company (NYSE: TKR;&nbsp;www.timken.com), is building on its decades-long relationship with the United States Navy. The Navy recently announced that Fincantieri Marinette Marine (FMM) will build its new&nbsp;Constellation&nbsp;(FFG-62) Class of guided-missile frigates and FMM has chosen Timken&#39;s Philadelphia Gear business to supply the main reduction gears.</p><p><br/></p><p>Philadelphia Gear will design the critical elements of the ship&#39;s propulsion system at its technical center in&nbsp;King of Prussia, Pa., and manufacture and assemble them at its marine center of excellence in&nbsp;Santa Fe Springs, Calif.&nbsp;FMM&#39;s contract with the Navy includes options for up to 10 frigates.&nbsp;These options, if exercised, could bring the cumulative value of Timken&#39;s contract to more than&nbsp;$140 million&nbsp;over its life.</p><p><br/></p><p>&quot;We&#39;ve worked on many U.S. Navy ships over the years and are proud to continue that relationship supplying essential elements for this next generation ship,&quot; said&nbsp;Carl Rapp, Timken group vice president. &quot;We congratulate Fincantieri Marinette Marine on winning this new class of warship and thank them for entrusting us with this critical role.&quot;</p><p><br/></p><p>The nearly 500-foot-long ships will have multi-mission capabilities, across the air, anti-submarine, surface, and electronic warfare spectrum of operations.</p><p><br/></p><p>Timken acquired Philadelphia Gear, a recognized leader in high-performance gear drives, components and related services, in 2011. With over 128 years of power transmission design experience, Philadelphia Gear offers world-class expertise in the service and manufacture of power transmission equipment.</p><p></p>