Timken to Close Three Plant
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Sep 22,2005
a.Timken to Close South Carolina Plant
CANTON, Ohio (AP) - Timken Co., a manufacturer of bearings and specialty steels, on Wednesday said it plans to shut its Clinton, S.C., plant as it phases out production over the next two years.
The company spokeswoman said 1,000 workers at the plant would be affected, although many would be offered work elsewhere in the company.
"The decision to close this plant resulted from a lengthy study of our automotive business that identified the need to exit certain product lines and to reduce fixed costs across our manufacturing network," said Jacqui Dedo, automotive group president.
Timken said products from the Clinton plant would be shifted to other facilities. The plant makes components and bearings for automotive powertrain and chassis applications.
In July, the company announced it would restructure its automotive group and cut between 400 and 500 jobs in the segment. Timken targeted annual savings of $40 million.
Shares of Timken rose 4 cents to $27.74 in morning trading on the New York Stock Exchange.
B. Timken to close Laurens County plant
CLINTON, S.C. (AP) - Timken Co. will phase out operations at its plant here over the next two years as part of a restructuring of its automotive group, the company said Wednesday.
The closure will eliminate 1,300 jobs, Marvin Moss with the Laurens County Chamber of Commerce, told WYFF-TV in Greenville.
Workers will be offered jobs at other Timken facilities, as production is moved to other plants, the company said.
The plant makes parts and bearings for automotive powertrains and chassises. It also manufactures bearings for industrial applications, such as transmissions and outboard engines.
"The decision to close this plant resulted from a lengthy study of our automotive business that identified the need to exit certain product lines and to reduce fixed costs," said Jacqui Dedo, president of the automotive group for the Canton, Ohio, based company.
The plant here opened in 1961 as part of The Torrington Group. Timken acquired torrington in 2003.
C. Timken to close Clinton, South Carolina, plant
NEW YORK, Sept 21 (Reuters) - Alloy steel and bearings manufacturer Timken Co. on Wednesday said it would close its plant in Clinton, South Carolina, with production to be phased out over two years.
Timken said "many" of the Clinton employees would be offered jobs at other plants and that most of the products that had been made in Clinton would continue to be manufactured in the United States.
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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