Jozef Jankulák sold precision reduction gear maker Spinea to Timken
Jozef Jankulák sold his Prešov-based Spinea, one of world’s top four high precision reduction gear makers, to US company Timken, the global leader in bearings and power transmission products. During the pandemic, Spinea posted a drop in sales from €37m to €22m but this year it again expects €38m in sales. Timken had $4.1bn in sales last year. Spinea is launching a new €80m plant that will increase its workforce to 850, up 300 from the pre-pandemic level. The new plant will be fully operational in 2024.
