Timken’s Continued Recognition for Responsible Business Practices
Timken Company has once again earned recognition as one of America's Most Responsible Companies, as acknowledged by Newsweek for the fifth consecutive year. This prestigious title is a testament to the company's ongoing dedication to enhancing the lives of individuals and communities, making a difference for the planet, and reinforcing its business through effective corporate social responsibility (CSR) initiatives.
Commitment to Corporate Social Responsibility
Tarak Mehta, President and CEO of Timken, emphasized the importance of CSR, stating, "At Timken, we're dedicated to CSR, reducing emissions and supporting our communities because these are the right things to do." He highlighted the company’s focus on innovating solutions that boost efficiency and sustainability for their customers. This recognition celebrates the employees who contribute positively each day, working together to create a more efficient and resilient world.
Newsweek and Statista’s Selection Process
Newsweek, in collaboration with Statista Inc., undertook a comprehensive evaluation of key performance indicators of the top 2,000 public companies in the U.S. based on revenue. Additionally, they conducted a survey that encompassed 26,000 U.S. residents. Participants were asked to assess companies they recognized, evaluating overall CSR performance alongside social, environmental, and governance practices.
Timken’s Industry Impact
From this evaluation, Newsweek selected a total of 600 companies across 14 different industries. Timken was recognized in the capital goods subcategory, reflecting its substantial impact. Earlier in the year, Timken also received accolades as one of the World's Most Ethical Companies by Ethisphere, marking the 13th time the company has been honored with this recognition.
About The Timken Company
Founded 125 years ago, The Timken Company (NYSE: TKR) has established itself as a global technology leader in the field of engineered bearings and industrial motion. Timken designs a progressively expanding portfolio of next-generation products tailored for various sectors. Their specialized expertise has been pivotal in innovating customer-centric solutions that enhance reliability and efficiency. The company reported sales of $4.8 billion in its last fiscal year and employs more than 19,000 individuals across 45 countries worldwide.
Contact Timken for More Information
For additional information regarding Timken, its CSR initiatives, or product offerings, the media relations team is available for inquiries. Scott Schroeder can be reached directly at 234.262.6420.
Frequently Asked Questions
What is the significance of the recognition given to Timken?
This recognition highlights Timken’s consistent efforts in corporate social responsibility over the past five years, focusing on the positive impact on communities and the environment.
How does Timken contribute to corporate social responsibility?
Timken implements various initiatives aimed at reducing emissions, supporting community development, and creating sustainable solutions for their customers.
What criteria were used to assess companies for this recognition?
The assessment was based on key performance indicators combined with a survey of U.S. residents evaluating the CSR practices of the companies they were familiar with.
In which industry does Timken operate?
Timken operates in the capital goods sector, specifically focusing on engineered bearings and industrial motion solutions.
How can I learn more about Timken's products?
For comprehensive information regarding Timken's offerings, visit their official website or contact their media relations team directly.
