On October 15, Timken and Jereh Group (hereinafter referred to as “Jereh”) signed a global strategic partnership agreement at Jereh’s headquarters in Yantai. This partnership marks an important step for Timken in deepening its global footprint in key industries; the two companies will leverage their respective strengths in product technology and market channels to establish a long-term strategic partnership.

 

Lucian Boldea, President and CEO of Timken, and Lu Wei, Rotating Chairman and Chief Operating Officer of Jereh Group, signed the agreement on behalf of their respective companies. Senior executives from both sides attended and witnessed the signing, including Yu Lan, President of Timken’s China and Northeast Asia Region; Wu Fangfang, Director of Sales and Customer Engineering for China; Zhang Wei, Chief Financial Officer of Jereh Group; Shi Yanqing, Group Vice President and President of the Industrial Technology Group; and Liu Junyue, Vice President of the Industrial Technology Group.

 

Timken and Jerry Group have a long-standing partnership. As a leading domestic manufacturer of high-end equipment and provider of oil and gas engineering services, Jerry Group possesses a mature market network and customer base and has long been a key partner of Timken in China.

 

In recent years, Timken has continued to accelerate its global strategic deployment and business integration, constantly expanding its power transmission product portfolio and the boundaries of industry applications, while demonstrating strong growth momentum in fields such as new energy and automation. As more and more Chinese equipment enters overseas markets, the collaboration between the two companies has evolved from domestic operations in China to cross-regional synergy.

 

This upgraded partnership aims to fully integrate Timken’s strengths in industrial products and technologies with Jereh’s global customer resources within the industry, fostering in-depth cooperation in areas such as technical support, application solutions, marketing, and project collaboration. Timken will leverage Jereh’s global customer resources and industry network to promote the implementation of its products and solutions in more key industries; At the same time, Timken will leverage its global footprint to provide local support and service guarantees for Jereh’s overseas operations, helping the company serve its global customers more efficiently.

 

Jereh Group has built a strong customer base in global energy and high-end equipment sectors, making it exactly the kind of partner we seek in the global market. We look forward to this strategic partnership enabling Timken’s products and system solutions to reach customers in key global industries more efficiently.

 

— Lucian Boldea

President and CEO, Timken

 

With over 110 manufacturing facilities and 29 engineering and technology centers worldwide, Timken is well-positioned to collaborate with Jereh locally in overseas markets, providing timely product supply and technical support for its global operations.

 

As Chinese equipment expands into overseas markets, customers’ primary concern is whether they can obtain timely technical support and services locally. Timken is committed to leveraging its global network of manufacturing facilities and engineering centers to provide localized support for Jereh’s global operations.

 

— Yu Lan

President, Timken China and Northeast Asia

 

This agreement lays a solid foundation for both parties to deepen their global cooperation. Building on this foundation, Timken looks forward to working with Jereh to bring more projects to fruition.