Coal Age

APR 2019

Coal Age Magazine - For more than 100 years, Coal Age has been the magazine that readers can trust for guidance and insight on this important industry.

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Page 42 of 51

April 2019 41 suppliers news continued expansion of Epiroc offerings allows JRE to provide consistent support throughout Virginia. JRE will contin- ue to provide drill rigs, rock drilling tools, and service in North Carolina and South Carolina. "We're excited to expand our val- ued partnership with James River Equipment in the state of Virginia," said Vice President of Independent Distribution Tom Borer. "JRE is a re- gional leader in the aggregate and contract drilling markets. Supported by JRE's experienced and knowledge- able staff, Epiroc equipment will help drilling customers in the region in- crease uptime and efficiency." Epiroc focuses on providing solu- tions that enhance productivity, safety and cost efficiency for its customers. With cutting-edge technology and in- novative products, Epiroc develops and produces innovative drill rigs, rock ex- cavation and construction equipment. "We are pleased to add Epiroc drills to the bulk of our footprint in Virginia," said John Grantier, James River Equip- ment vice president of sales. "Epiroc's quality products add to the wide range of equipment we already offer and will give us an additional opportunity to take care of existing customers and new ones as well." Timken Acquires Diamond Chain The Timken Co. has acquired the Di- amond Chain Co., a leading supplier of high-performance roller chains for industrial markets. "The acquisition of the Diamond Chain adds another strong industrial brand with a repu- tation for quality, reliability and per- formance to Timken's growing power transmission portfolio," said Richard G. Kyle, Timken president and CEO. "Diamond Chain is a premier brand in the North American distribution channel and is an excellent strategic fit with our Drives chain business. The acquisition expands our leadership in roller chain, builds on our strong po- sition in distribution and adds depth to our manufacturing capabilities in Asia. We expect to drive significant synergies with the combination of Di- amond Chain and Drives." Founded in 1890 and headquar- tered in Indianapolis, Indiana, Di- amond Chain has manufacturing operations in the United States and China. The company employs ap- proximately 370 people. With the acquisition of Diamond Chain, Timken's power transmission portfolio now accounts for rough- ly one-third of company revenues. Timken expects Diamond Chain re- sults to be reported mostly through Timken's Process Industries busi- ness segment. The acquisition was funded with cash on hand and through borrow- ings under existing credit facilities. Timken expects the acquisition to be accretive to adjusted earnings in 2019.

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