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.

Hospice of the Western Reserve

Lehmans

Area Agency on Aging 10B, Inc.


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

Ohio to appeal ruling keeping Akron's red light cameras in place
I don't understand what all the fuss is about. If you don't like tickets drive the speed limit and stop at red lights. It's really all up to you.

Who's on public assistance in Ohio?
legalize marijuana get over it,,, its here its been the main drug test scare of a lifetime. u got people that get drunk every night and work u got peoples on ...

Letters from a lost friend: A Beachwood survivor's Holocaust remembrance
What a great story -- and how important it was for both Marlene and her mother to tell it! Thank you.

Ohio lawmaker calls for an East Cleveland bailout
Instead of blaming Kasich and the Republicans for all of East Cleveland's fiscal woes, take a look at the facts. Some political entities in Ohio are too small ...

Legalized marijuana is a boon for a Cleveland-area grow light maker
Shouldn't he be in jail for paraphernalia? He knows he is selling for marijuana production.

Akron city council to vote on resolution for hiring ex-offenders
Great as a taxpayer I paid for the police to catch them, the free lawyer, the jail to house them , the food their kids eat the medical for them and all its goin...

5 of 8 rule headed for a vote
this is just another way for kasich to pass the buck and claim that it gives the local districts control. Few schools have enough money because of his cuts. T...

A passionate debate about parole in Ohio
I was heartened to hear that the legislators will consider ANY legislation to break the chains the parole board has put on these old law offenders who have serv...

Bill would allow Ohio religious leaders to refuse to do gay marriages
This is just a lot of political posturing. The free exercise clause of the 1st Amendment already protects clergy from being forced by civil authorities to perfo...

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