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.

Greater Akron Chamber

Knight Foundation

NOCHE


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


The pricetag of Timken's split into two companies comes down
Bearings and steel will be separate businesses by June 30


 
The continuous caster and other improvements at Timken's Faircrest plant will boost steel production by about 25 percent.
Courtesy of M.L. Schultze
Download (WKSU Only)

The cost of splitting the Stark County-based Timken Co. into two is likely to be $10 million cheaper than originally predicted. And the company is heading toward the split with higher profits and sales. WKSU’s M.L. Schultze has more from the penultimate quarterly report for the 115-year-old company.

LISTEN: Timken profits and sales are up as it heads toward a split

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


Shareholders voted last year to force the split of Timken’s bearings division from its steel division. And the company has been estimating the cost of dividing operations, research and development, production and administration would run somewhere around $105 million. 

But now, it’s telling analysts that’s likely to be closer to $95 million, and that the deal will be done by June 30th

In its review of the first quarter of 2014, the company also says its profits were up about 11 percent over the same quarter of last year, and sales climbed to $1.1 billion.

Steel accounted for a big share of that. Timken is investing $200 million into its mill in Stark County, including building a 250 foot-high caster to make a stronger steel designed for more high-stress uses such as drilling.

But the power side of the business – which includes roller bearings --also did well, boosted by orders for wind energy.

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

Cleveland deal ramps up civilian oversight of police
i would like to see police get mandatory psych evals one a year from out side the department.

The generation gap in care for developmentally disabled Ohioans
I don't understand how a few hours a day of caregiving can possibly help a person who lives with complex/multiple disabilities. Many waiver recipients totally d...

Marijuana referendum may change more than pot's legal status in Ohio
If our representatives would act in accordance with the will of the people things like this wouldn't happen. They dragged their feet and blocked discussion on t...

Area pastors and congregation members protest justice system
I live in Cleveland. trust me when I say the high incarceration rate is due to the high crime rate.

Ohio's attorney general rejectsthe latest proposal to legalize marijuana
i think the ag launguage is money hes talking about drug companies must pay him more than responsible ohio can

PBS documentary chronicles the fall of Saigon through new footage and stories
Hi, Does anyone know the number - in the pbs special "Last Days of Vietnam" documentary, of how many Vietnamese were evacuated? Please e-mail me the answer. T...

Protest planned at tomorrow's FirstEnergy meeting
The problems of the poor and downtrodden have nothing to do with First Energy. They are the result of Republican legislators who consistently reduce taxes on th...

Ohio bill would help smaller communities with LGBT discrimination laws
Do we not try and have rights for all individuals equally? On the HUD list of "preferred" candidates who get "special consideration" it states that: For purp...

Ohio likely will continue with two types of police academies
Wake up people your wanting a Harvard law school education for a job that may pay a little over the poverty level. I don't know anyone who could support a wife ...

Police Week's ties from NE Ohio to D.C.
The men and women in blue who risk their lives everyday to serve and protect us....and this is as much recognition and appreciation that NPR/WKSU feels to offer...

Copyright © 2015 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