Tue, Oct. 6, 8:39 AM
Tue, Sep. 1, 8:54 AM
- Timken (NYSE:TKR) has completed its previously announced transaction with American Industrial Partners to acquire the Carlstar Belts Business.
- The company expects the transaction to be accretive over the balance of 2015. For the 12 months ending June 30, 2015, Carlstar Belt sales were approximately $140M.
Nov. 18, 2014, 8:23 AM
Oct. 16, 2014, 3:17 PM
- Timken (TKR -0.2%), Regal Beloit (RBC +0.9%) and Altra Industrial Motion (AIMC +0.6%) have made it to the second round of bidding in the auction for Emerson Electric's (EMR +2%) power transmission solutions business, Reuters reports.
- P-E firms Warburg Pincus and Onex also are said to be in the running for the unit, which is expected to fetch $1.2B-$1.6B in a sale.
Sep. 5, 2013, 4:19 PM
- Timken (TKR) announces plans to separate its steel business from its bearings and power transmission business through a spinoff, creating two publicly traded companies
- The spinoff is expected to be completed within 12 months.
- Ward J. Timken, Jr. will serve as chairman and CEO of the new steel company with estimated annual revenue of approximately $1.7B.
- Richard G. Kyle will become president and CEO of the global bearings and power transmission business, with estimated annual revenue of approximately $3.4B.
- Shares +6.3% AH.
Apr. 12, 2013, 9:44 AMTimken (TKR -0.7%) acquires electric motor repair outfit Smith Services for an undisclosed sum. Smith had sales of $17M last year. TKR says the purchase adds "additional industrial service capabilities." Meanwhile, Relational Investors and CalSTRS say a proposal to spinoff TKR's steel business poses no downside risks and is in fact not binding which is why, they say, shareholders should vote 'yes.' | Apr. 12, 2013, 9:44 AM | Comment!
Oct. 3, 2011, 6:40 PM
Aug. 31, 2011, 10:54 AM
May 27, 2011, 12:39 PM
The Timken Co manufactures mechanical components. The Company along with its subsidiaries engineers, manufactures and markets bearings, transmissions, gearboxes, chain and related products and offers power system rebuild and repair services.
Other News & PR