Timken to Expand Motion-Control Platform, Capabilities with Acquisition of CGI Inc. | Robotics

Addition will create unmatched portfolio of precision drives.

The Timken Company (NYSE: TKR; www.timken.com), a global technology leader in engineered bearings and industrial motion, has agreed to acquire CGI Inc., a Nevada-based manufacturer of precision drive systems serving a broad range of automation markets with a concentration in medical robotics. The deal is subject to customary closing conditions, including regulatory approval, and is expected to close in the third quarter.

“Timken has one of the broadest and most differentiated precision drive product portfolios in the global automation industry,” said Christopher Coughlin, executive vice president and president of Industrial Motion. “Driven by our strength in operational excellence, growing global footprint and expanding engineering expertise, we are well positioned for growth in attractive markets such as…