The Timken Company completed the acquisition of Lagersmit.

The Timken Company, an engineered bearings and industrial motion products maker, completed the acquisition of Lagersmit, a manufacturer of highly engineered sealing solutions. Financial terms were not disclosed. "Lagersmit adds engineered sealing products to our portfolio and strengthens our presence in the attractive marine market. The business serves leading propulsion manufacturers, ship owners, pump makers and other industrial customers around the globe that require advanced sealing systems. Lagersmit is a high-quality brand with premium products that are highly complementary to our existing portfolio," Christopher Coughlin, Timken Executive Vice President.