Timken France Cut the workforce Down To 240

Resource from: CBCC Likes:2935

Mar 13,2006

Timken France SAS (Vierzon, France; a subsidiary of The Timken Company, USA) announced it will cut the workforce at its Vierzon needle roller bearing plant by a third, from 365 workers down to 240. The company cited continued slow demand from the automotive sector, exacerbated by cost pressures. Vierzon produces needle roller bearings, primarily for automotive applications. Sales of bearings produced there are forecast to plummet by at least 35% in 2006. To deal with the changing auto industry and its demands, Vierzon is being reoriented to produce only high-volume standard bearings, with low-volume and specialty bearings taken out of the mix in favor of other more cost-effective locations. In addition to the manufacturing cutback, Timken is also shifting 17 engineering positions from Vierzon to its advanced R&D facility in Colmar, France. Timken has been manufacturing bearings in France since 1918. The Vierzon plant was formerly known as Nadella Vierzon SA, and came to Timken as part of its acquisition of Torrington. Timken France SAS recently divested its ownership stake of Indian needle roller bearing manufacturer, NRB Bearings Ltd.

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