News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

The Holden Arboretum

Meaden & Moore

Northeast Ohio Medical University


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Ohio


Shareholders may make more if there are two Timkens on the market

by WKSU's TIM RUDELL


Reporter
Tim Rudell
 
For now Timken operates both a world-leading bearing manufacturing division and a high-end specialty steel making division...to serve the bearing part of the company, and supply other companies and industries that need precision made, high-quality steel
Courtesy of tpr
Download (WKSU Only)
In The Region:

When the votes were tallied at the May 7th annual meeting of Timken shareholders fifty three percent said yes to at least examining the potential of spinning off Timken’s steel making arm as a separate entity. 

The vote was non-binding but Timken Chairman Ward Timken, Jr. said after it that the company would figure out appropriate response within 45-days. 

Click to listen

Other options:
Windows Media / MP3 Download (0:58)


Now, thirty days later the Walkover at Timken HQ in Canton company has formed of a committee made up of all outside and non-family members of the board of directors to delve into the split strategyWard Timken, JRThe Committee hired the investment banking firm of Goldman, Sachs to help with the evaluation, and a report is expected by the end of the third quarter. 

The issue of carving away Timken’s Steel Division as a separately traded companyWorld HQ of the Timken COmpnay in Canton, OH has been pushed by Relational Investors, an activist investor group, and it’s partner, the California State Teachers' Retirement System-- together they own more than seven percent of  current Timken stock. 


Related WKSU Stories

Timken shareholders vote to split the company
Tuesday, May 7, 2013

Morning headlines: Inspectors looking into Timken accident that killed two
Monday, May 6, 2013

Stark County watches nervously as a vote on splitting up Timken nears
Tuesday, April 30, 2013

Another shareholder adviser sides with splitting Timken
Monday, April 29, 2013

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Farm-to-School: Cafeteria lunch is fresh and local at Tallmadge High School
Great job Tallmadge City Schools! So glad to have a progressive business manager and superintendant!

World premiere at Cleveland Institute of Music is fanfare for a new theme
J'ai une grande admiration pour Daniil Trifonov que j'ai vu en concert deux fois à Paris je ne lui trouve pas d'égal c'est un ange tombe du ciel

Kent's journalism school faculty protest presidential search secrecy
There really was too much secrecy behind the selection process. Hopefully the letter by the faculty members will convince the board to provide more information ...

Belgian cargo ship creates new export route between Antwerp and NEO
The vessel is registered in Amsterdam, The Netherlands. Not in Belgium ;)

Exploradio: Tracking Ohio's champion trees
Absolutely loved this story. We lost 3 of our larger ash trees last year due to EAB. Big, beautiful trees are something to be treasured, and many times they tru...

Ohio's rules on fracking and earthquakes are a first
I'm right in the middle of the issue. Like oil independence, but hope there is pre- and current-drilling assurance re dangers from pollution, earthquakes and th...

Bridgestone exec indictments are latest step in a billion-dollar price-fixing case
Why is O.P.E.C Not investigated and charges brought against it and it's member companies? It sounds exactly the same...

Ohio's new drilling rules rely on known earthquake faults
requiring drillers to place seismic monitors when they drill within 3 miles of known fault lines. This comment really upsets me!! What good does an instrument t...

Kasich's gubernatorial ad focuses on his blue-collar roots
John Kasich is the biggest con-man in America. He will say one thing and then do the opposite. He is terribly successful at fooling the public and he is worki...

Cab drivers who refuse to drive Gay Games taxis will be replaced
the irony is that most americans distrust or hate muslims much more than they hate gays!! silly ignorant bigots-GO HOME!!!

Copyright © 2014 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University