Timken jumping into scrap arena with Ohio yard buy

Nov 15, 2010 | 10:22 AM | Michael Marley

Timken Co. is making the leap into the scrap metals business with the acquisition of City Scrap & Salvage Co. in Akron, Ohio.

Timken has been planning to acquire the scrapyard from members of the Katz family for about a year, according to industry sources, but said nothing publicly about its plans.

The terms of the deal were not disclosed, and executives of the Canton, Ohio-based steelmaker couldn't be reached for comment. Steve Katz, president of the scrap company, declined to comment.....

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