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The Timken Company Named 2004 Industry of the Year

Friday, November 19, 2004

The Timken Company has been named Lincoln County’s Industry of the Year by Lincoln Economic Development Association (LEDA). This award is presented annually by LEDA to promote and highlight the contributions and exemplary corporate citizenship of existing industry in Lincoln County.

The award is based on a set of criteria. First, the industry must have made a positive impact in Lincoln County within the last year. Second, the industry must be involved with the Lincoln community through direct financial, time and/or other significant contributions. Next, the industry must be a leader in their field and have produced a positive performance during their last fiscal year. Finally, the industry must maintain the highest standards of conduct in working with the community, government, other business and their own employees.

The Timken Company recently celebrated its 25th anniversary in Lincoln County. During this time, Timken has set the standard for corporate citizenship in the county. The Timken Foundation has collectively given over $5.5 million to the Lincoln community. Organizations such as Amy’s House, Gaston College and the East Lincoln Library have benefited from the company’s generosity. Timken employees are also very involved in community activities donating countless hours to the United Way, Relay for Life, Communities in Schools, Literacy Council, American Red Cross and many others.

During the last year Timken has doubled its sales and recently completed a $50 million investment in new product lines at the local facility. Harold Howard, Jr., LEDA chairman, commented on Timken’s community presence, “From the company’s tireless involvement in community activities and organizations, to their generous financial contributions, to their exemplary business performance and conduct, The Timken Company embodies a model corporate citizen.”

The Timken Company is a leading global manufacturer of highly engineered bearings and alloy steels. Timken has operations in 29 countries and is Lincoln County’s largest industrial employer. Timken continues to set the standard for corporate citizenship in Lincoln County.

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