, a manufacturer of engineered bearings, said it received a contract from Tokyo-based Julong PetroMaterials to supply more than $6 million of seamless tubes for its drill collars.
A drill collar is the heavy tubular connector between a drill pipe and a drill bit.
Julong PetroMaterials is engaged in the manufacturing and distribution of drilling tools and materials to the Chinese oil energy market.
"Drill collars do the dirty work in a drill string where the environments are really harsh and few mills are able to produce these long tubes needed for this application," Timken said. "Our goal is to improve our customers' performance, and we're pleased to share in that success with Julong."
The Canton, Ohio-based company's shares were trading at $28.38, down $1.07, or 3.6%.
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