07:15 AM EDT, 08/05/2024 (MT Newswires) -- Timken Company ( TKR ) said Monday it has agreed to acquire CGO, a maker of precision drive systems, including those for medical robotics.

Financial terms of the acquisition were not disclosed.

The deal, expected to close in Q3, would be funded with cash on hand and existing committed credit facilities.

Based in Nevada, CGI employs about 130 people and is projected to generate $45 million in sales in 2024.

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