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.

Wayside Furniture

Hospice of the Western Reserve

Metro RTA


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

What the U.S. Supreme Court ruling means for early voting
r.gov trying to slow down voters to stop the people from voting out the r. govener

Cleveland Orchestra heads home from Europe
So proud to be a lifetime Clevelander! Yes, our Orchestra is the best ambassador a city could hope for! My wife and I happened to hear the European Festival T...

Northeast Ohio undocumented immigrants praying for a miracle
Stop it, just stop it. They are not undocumented but illegal aliens. I live in a 'sanctuary' city and it's not pretty. Dahlberg is a notorious trouble maker in ...

Ohio survey shows low-income people are choosing phones over food
Where is this study published? no sign of it on google scholar. is there a cite

The Akron Sound rocks the porches
fabulous group interview! you covered so much in so little time. wish i could be there for porch rockr.

Head of Ohio Dems says Kasich administration is lying about Suarez contacts
when Kasich's mouth is open , he's lying. Look what he did at Lehmans brothers and then lied about it all during the campaign. If a GOP didn't lie, he or she ...

Canton's Basilica of St. John absorbs news of the pope at morning Mass
Hello Chris,Marina,and Patrice, I just read this article and you all look great. I'm on facebook Jean Dutcher in blue and white stripped blouse. I"M so glad to ...

Exploradio: Avoiding the 'acting-white' trap
Growing-up black and being black should not determine that you will not speak well or will not be a high achiever in your goals in life.But society te nds to la...

Charter-school supporters to rally at Statehouse
I am on the bus now headed to the rally. Horizon is an excellent school. My son is is 7 th grade. The teachers and administrators are top notch and spend so m...

Former Nursing Home Land Added to Parks
In addition, LED technology also plays a very important role in advertising- LED placard is very, very useful for shop owners.

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