The Timken Company has been named to Forbes magazine's "100 Most Trustworthy Companies" list, placing in the 95th percentile of those listed.
The annual study is based on a ranking of corporate accounting, governance and management practices by Audit Integrity, an independent financial and governance review organization.
To compile the annual ranking, the firm analyzes 12,000 companies listed on American stock exchanges and assigns each an accounting and governance risk (AGR) score using a proprietary process to evaluate financial reporting, transparency, fiscal policies, compensation, management behaviors, liabilities and risk indicators. Timken received high marks for its practices, with an average AGR score of 81 for the year, and 85 in the fourth quarter of 2008. The highest AGR score achieved was 88.
Timken, based in Canton, Ohio, manufactures bearings and related products, offering engineering and technical support and providing broad-based solutions for railways, car owners and original equipment manufacturers.