CANTON, Ohio: March 6, 2013 — The Timken Company (NYSE: TKR; www.timken.com) has earned a position on Ethisphere Institute’s World’s Most Ethical Companies list for the third time since 2010. Ethisphere is an international organization focused on the advancement of best practices in corporate governance, risk, sustainability, compliance and ethics.
This year’s list of nominations, the largest since the award’s inception in 2007, included companies in more than 100 countries and 36 industries. Ethisphere honored Timken among its 145 winners for consistent demonstration of integrity in business practices and initiatives.
“The business discipline that underpins our century of success also helps align our 20,000 employees around the core values that we live every day. Behaving ethically, with honesty, fairness, respect and responsibility, is at the heart of our corporate culture,” said Chairman of the Board Ward J. “Tim” Timken, Jr. “This honor is a tribute to our employees, who keep our powerful brand grounded in trust.”
To determine the winners, Ethisphere uses in-depth research and a multi-step analysis of companies’ business practices that includes reviewing codes of ethics, litigation and regulatory infraction histories; evaluating investment in innovation and sustainable business practices; examining activities designed to improve corporate citizenship; and studying nominations from senior executives, industry peers, suppliers and customers.
“Ethical activity is an important part of many companies’ business models,” said Alex Brigham, Executive Director of Ethisphere. “We are seeing more companies be proactive and create new initiatives that expand ethics programs and cultures across entire industries. We are excited to see the 2013 World’s Most Ethical Companies take these leadership positions, and embrace the correlation between ethical behavior and improved financial performance.”
For more information on Ethisphere’s list of 2013 World’s Most Ethical Companies, visit http://ethisphere.com/wme.
About Ethisphere Institute
The research-based Ethisphere® Institute is a leading international think-tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption and sustainability. Ethisphere Magazine, which publishes the globally recognized World’s Most Ethical Companies Ranking™, is the quarterly publication of the Institute. Ethisphere provides only third-party verifications of compliance programs and ethical cultures that include: Ethics Inside® Certification, Compliance Leader Verification™ and Anti-Corruption Program Verification. More information on the Ethisphere Institute, including ranking projects and membership, can be found at http://www.ethisphere.com.
About The Timken Company
The Timken Company (NYSE: TKR; www.timken.com), a global industrial technology leader, applies its deep knowledge of materials, friction management and power transmission to improve the reliability and efficiency of industrial machinery and equipment all around the world. The company engineers, manufactures and markets mechanical components and high-performance steel. Timken® bearings, engineered steel bars and tubes — as well as transmissions, gearboxes, chain, related products and services — support diversified markets worldwide. With sales of $5.0 billion in 2012 and approximately 20,000 people operating from 30 countries, Timken makes the world more productive and keeps industry in motion.
MTU recognized Timken for the company’s dedication to process development, adhering to customer requirements and continuing improvement in on-time delivery performance.