Timken Sales Up 18% in 3Q
The company benefited from the favorable impact of surcharges, pricing and currency, as well as acquisitions that serve the aerospace and energy market sectors. Strong sales in global industrial markets largely offset the impact of weaker automotive demand.
Our strategy of shifting our portfolio toward more attractive global industrial markets is clearly delivering results,"said James W. Griffith, Timken's president and chief executive officer. "While the economy today is unsettled, we still see strong demand for our products from aerospace, ...
The company benefited from the favorable impact of surcharges, pricing and currency, as well as acquisitions that serve the aerospace and energy market sectors. Strong sales in global industrial markets largely offset the impact of weaker automotive demand.
Our strategy of shifting our portfolio toward more attractive global industrial markets is clearly delivering results,"said James W. Griffith, Timken's president and chief executive officer. "While the economy today is unsettled, we still see strong demand for our products from aerospace, energy and heavy industry market sectors, as well as growth in Asia ."
For the first nine months of 2008, sales were $4.45 billion, an increase of 14% percent from the same period in 2007. Profit improved 76.9% to $303.8 million.
Segment Results
The Bearings and Power Transmission Group had third-quarter sales of $1 billion, up 8% for the same period last year. Strong global industrial demand, pricing, shifting capacity to more profitable segments and currency drove the increase, which was partially offset by high material costs and weakness in automotive markets.
In the third quarter, Mobile Industries sales were $539 million, a decrease of 8% in a year-over-year comparison. Sales declined as a result of lower demand from the North American and European light-vehicle market sectors. Stronger demand in the heavy-truck and off-highway market sectors and pricing partially offset the drop in light-vehicle demand.
Process Industries had third-quarter sales of $346.3 million, up 33%.
Third-quarter sales for Aerospace and Defense improved 56% to $110 million. About half of the increase in sales was driven by the Purdy acquisition, completed in the fourth quarter of last year.
Sales for the Steel Group, including inter-group sales, for the third quarter were $536.5 million, an increase of 4%.
The Timken Company manufactures highly engineered bearings, alloy steels, and related components and assemblies. Timken had sales of $5.2 billion in 2007, with operations in 27 countries and about 25,000 employees.
 |
|
| View the Top Distributors in 12 Sectors: | |
| 2011 Distribution Landscape Report: Access Now | |
Join MDM's Independent Distributor
Network 
Follow MDM on Twitter
Sponsored Links
- Cloud ERP, the next innovation in distribution software. Learn more.
- Get better eCommerce, an easier back-end, and increase revenue.
- Free GCommerce whitepaper: How to reduce transaction costs, streamline special orders
- Cloud ERP, the next innovation in distribution software. Learn more.
- Protect your revenue and grow your business with Cortera PulseTM
- NSK's P4Y precision-class universal bearings' multiple configurations reduce inventory
- Resources and training tools for distributor sales, management and more in the MDM Store
MDM Digital
 The Case for Mobilein Distribution Marketing John Sonnhalter explains why distributors should include mobile in their marketing plans and how to start. Watch now. iPad users: click here to view. |
 Economic Update:The Festering Euro-Crisis MAPI Economist Kris Bledowski analyzes the outcome of recent meetings about the European banking and debt crisis. Watch now. |
 Online Marketing Tipsfrom Bob DeStefano Many companies make the same mistake on their company websites. Do you? Find out. |
More Audio and Video Features from MDM: |
Think About It: |
Upcoming Programs
|
|
Training Resources
 |
 |
 |
 |
|||
|
Featured Article - MDM-Baird Benchmarking Survey: Distributor Optimism Returns $34.95 |
Management Tips from Modern Distribution Management $49.95 |
Inventory Management Best Practices with Jon Schreibfeder: DVD + Book $119.00 |
Benchmarks & Best Practices: The Answer Book for Growth-Minded CFOs & Controllers $249.00 |
| Title | Company | Location |
|---|---|---|
| Sales Account Manager - Energy Market Segment | TESSCO | Baltimore, MD |
| Channels Marketing Representative -- Advanced Supply Chain Business Information Systems | Scientel Intormation Technology, Inc. | Southeast Michigan |
| Technical Trainer - Innovative Change Agent - Long Island City, NY | Daikin AC | Long Island City, NY |
| Sales Representative | Superior Essex | Minnesota |
| Strategic Sales Consultant | IDC-USA | Indianapolis, Indiana |
| Counter Sales | Heating and Cooling Supply | Chatsworth, California |
| Counter Sales | Heating and Cooling Supply | Thousand Palms, CA |
| View ALL Wholesale Distribution Job Listings |
|
|
Industry Topics sponsored by
Distribution Trends
|
Economy
|
Management/Strategy
|
Interviews
|
Operations
|
Technology
|
Mergers/Acquisitions
|
Case Studies
|
Sales & Marketing
|
MDM Calendar
Operating for Profit: The Coming Revolution in Supply Chain Finance
Mobile Technologies for Distributors with Steve Epner
Featured Products
Benchmarks & Best Practices: The Answer Book for Growth-Minded CFOs & Controllers
2011 MDM Market Leaders and Distribution Landscape Report
The B-to-B Online Marketing Toolkit:
A Step-by-Step Plan for Distributors and Manufacturers to Leverage Online Marketing
for Bottom Line Results
Leave a Comment