#Canada #Ontario #Timken Company #Ontario Securities #Reporting Issuer

Timken Company Moves to Cease Reporting Issuer Status in Canada

The Timken Company (NYSE: TKR), recognized worldwide as a leader in engineered bearings and industrial motion, has announced an important move to apply for the cessation of its status as a reporting issuer in Canada, specifically with the Ontario Securities Commission (OSC).

Established over 125 years ago, Timken has distinguished itself by offering innovative solutions and a diverse portfolio of products designed for various industries. With sales hitting $4.6 billion in 2024, the company has a global footprint, employing around 19,000 people across 45 countries. The decision to apply for this regulatory change reflects Timken's strategy to streamline its compliance obligations, particularly as its reporting requirements in Canada primarily duplicate those already satisfied in the U.S.

As Timken seeks this order, it anticipates that the OSC will grant the request, allowing the company to cease filing certain financial reports and disclosures that are not necessary in Canada. This transition will not affect Canadian shareholders adversely, as they will continue to receive all relevant disclosures provided to U.S. shareholders under the securities laws of the United States and the regulations of the New York Stock Exchange (NYSE). Thus, Timken remains committed to keeping its investors informed and maintaining transparency in its operations and financial dealings.

Following the anticipated approval, Timken will continue to submit essential financial statements and other disclosure materials to U.S. regulators, ensuring that all pertinent documents remain publicly available on sites like www.sec.gov. This decision illustrates a strategic shift that will better align the company’s regulatory efforts and focus its resources where they are most needed, ultimately benefiting both U.S. and Canadian investors alike.

Timken's dedication to engineering excellence and customer-centric solutions places it at the forefront of its industry. With a vision for the future, the company not only seeks to reduce unnecessary regulatory burdens but also aims to invest more effectively in innovation and growth.

As Timken navigates this new regulatory landscape, analysts expect the company to maintain its strong market position and continue to thrive. The outcomes of these changes may create opportunities for Timken to enhance its operational efficiency while ensuring its globally diverse investors receive the information and support they need.

For more information about the Timken Company and its latest initiatives, visit Timken's official website, or explore updates through their investor relations channels.

Conclusion

Timken's application to cease its status as a reporting issuer in Canada is a significant step in the company's objective to streamline operations while continuing to foster transparency and compliance with key stock regulations. As the company moves forward, it will undoubtedly continue to leverage its history of innovation and market leadership to achieve sustained growth and value for all its stakeholders.