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CGI Extends Partnership With the City of New York for Maintenance of Parking System Technology
The Timken company will acquire CGI Inc., further strengthening its powertrain control platform and capabilities.
The acquisition will create an unparalleled portfolio of precision transmission products. On August 8, 2024, the global engineering bearing and industrial transmission technology leader, The Timken Company (NYSE:TKR), has agreed to acquire CGI Inc. The company is a precision drive system manufacturer headquartered in Nevada, USA, serving a wide range of automation markets and focusing on the medical robotics field. The transaction is subject to customary closing conditions, including regulatory approval, and is expected to be completed in the third quarter of this year. Looking at the global automation industry, in terms of precision transmission product portfolio, Timken is capable of delivering comprehensive solutions to meet customer needs.
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