In February, before COVID-19 pressed pause on our personal interactions, we invited the investment firm SouthernSun Asset Management to tour Timken’s state-of-the-art Tyger River manufacturing facility in Union, S.C. Tyger River is where we make, among other things, the massive tapered roller bearings – some as big as 7 feet in diameter – that help power the towering wind turbines you often see in open rural fields and along coastlines.
During the visit, we were able to show SouthernSun’s representatives the wisdom behind their investment in Timken on behalf of their clients. In hindsight, they also got to see and hear about why our work is so essential – even in the face of a global pandemic. We provide critical components for the equipment that helps feed us, move us and shelter us. Those needs never stop.
SouthernSun’s team saw, firsthand, how our technology and innovation have helped us become a leader in the wind industry. It’s because of the work we do at Tyger River and in other locations across our global footprint that renewable industry now makes up 7% of our portfolio. Over the last decade, we’ve invested heavily in training, equipment upgrades, research and development and acquisitions to grow our wind business, specifically, to the tune of $200 million in sales a year.
Today, Timken is one of the most trusted partners of wind turbine and gearbox manufacturers around the world. We help our customers innovate in a growing industry to improve reliability, cost and performance. Specifically, we provide bearings for a turbine’s main shaft and gear drives, as well as lubrication systems, clutches and couplings.
I, along with our team at Tyger River, enjoyed speaking with SouthernSun’s Drew Wilson and Mike Cross. We’re proud to be part of their portfolio, which focuses on companies that demonstrate niche dominance, management adaptability and financial flexibility. Drew and Mike learned a lot from their visit to South Carolina and used their knowledge to put together an entertaining and informative podcast that’s all about our company. I hope you enjoy it as much as I did.