The document discusses The Timken Company considering acquiring The Torrington Company from Ingersoll Rand in 2002. The acquisition would combine over 100 years of bearing manufacturing experience between the two companies. It was estimated the acquisition could result in over $80 million in annual cost savings from consolidating facilities and processes. However, regulators may block the acquisition due to concerns about reduced competition in the bearing industry. The Timken Company and The Torrington Company are two of the largest bearing manufacturers worldwide. NSK, Ltd. is another major Japanese bearing manufacturer that could be impacted by the acquisition.