Spinea

The Timken Company has agreed to acquire Spinea, a European manufacturer of cycloidal reduction gears and actuators for high-precision automation and robotics. The transaction is expected to close in several weeks.

Spinea plans to build a third production plant near Prešov, Slovakia, with an investment of nearly €80 million. The new facility will increase capacity to 140,000 reducers per year and create over 400 jobs.