The Timken Co. has acquired Amsted Industries' The Diamond Chain Co., a supplier of high-performance roller chains for industrial markets, growing its transmission portfolio to around one-third of its revenues.
Indianapolis-based Diamond Chain has manufacturing operations in the U.S. and China and employs approximately 370 people. For the 12 months ended March 31, 2019, the company posted sales of over $60 million.
“The acquisition expands our leadership in roller chain, builds on our strong position in distribution and adds depth to our manufacturing capabilities in Asia," Timken President and CEO Richard G. Kyle said.
