Search Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.

A look at what two Timken operations will encompass

Keywords: Tags  Timken, steel business, bearings, power transmission, Richard G. Kyle, Ward J.

CHICAGO — Timken Co.’s new standalone steel company will include about 3,000 employees in seven manufacturing plants, four warehouses and five sales offices.

The Canton, Ohio-based company, which has a steelmaking capacity of 1.8 million tons per year, will continue to produce large-diameter special bar quality products for industrial markets and seamless mechanical tubing. Timken’s board expects strong prospects for growth and margin improvement at the steel business, which over the past decade increased margins, lowered its break-even point and streamlined its supply chain.

Post separation, Timken—consisting of the Process Industries, Aerospace and Mobile Industries segments—will have an estimated annual revenue of $3.4 billion, producing bearings and related mechanical power transmission components and services, with nearly 17,000 workers at 35 manufacturing plants, 25 service and repair facilities, four technology centers and a network of sales offices and warehouses.

After the spinoff is completed, Richard G. Kyle, 47, will be Timken’s new president and chief executive officer, while Ward J. "Tim" Timken Jr., 46, will lead the steel company as chairman and chief executive officer.

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Latest Pricing Trends