Timken ( TKR) said its Bearing Inspection unit was named by GE Aircraft Engines as an approved source for the repair of bearings for the CF34-3 aircraft engine. The approval is applicable to all main-line bearings for the CF34-3 engine, installed on Bombardier Challenger business jets and CRJ100/200 regional jets. "The CF34-3 approval represents another step forward in the continuing expansion of the scope of our aerospace reconditioning programs as we deliver increased value to global customers," the Canton, Ohio-based company said. "Airlines and engine overhaul shops will clearly benefit from Timken's commitment to the aerospace aftermarket in enhancing power transmission performance through innovative friction management technologies and cradle-to-grave program support." The company's shares were trading at $32.56, down 58 cents, or 1.7% Tuesday.