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The Timken Company plans to begin closing its Canton bearing manufacturing operations. The company expects most of the production to be shifted to its other U.S. plants. Current employment at the three Canton bearing plants is 1,300 people. Timken employs 4,800 in Stark County, OH and approximately 26,000 worldwide. The Canton-based steel operations are unaffected by this decision. See article here.
Timken Latrobe Steel, a subsidiary of The Timken Company, announced it would increase prices by 5 percent on High Speed Steel products. The price change is effective with the new orders received beginning Jun. 1, 2004. Raw material surcharges will remain in effect. 'Continued higher production costs in the form of scrap and energy are key factors in this price increase,' said David A. Murray, vice president-sales and marketing-Timken Latrobe Steel. 'We are continuing with our efforts to try to offset these costs.'
Industrial Packaging Corporation, Atlanta, GA, has launched a safety products division, under the direction of Roy Van Buskirk. With 11 years experience in industrial safety products, he has worked with 1,000 plants in 22 states to enhance safety programs and provide safety products. An independent packaging distributor for 54 years, IPC already has established relationships with the prominent safety product suppliers and maintains a full range of inventory. IPC is a member of marketing group AFFLINK, which recently launched a safety supply division to add to its jan/san, packaging, healthcare and foodservice product lines (more on this in the next MDM).
Hydradyne Hydraulics LLC, Harvey, LA, has acquired the four Texas branches of Certified Power Inc., Mundelein, IL, a manufacturer of power train components, and a distributor of hydraulic, pneumatic, electronic, and drive train components for industrial and mobile applications. The four Texas branches are in Dallas, Houston, Waco and San Antonio. Hydradyne, Parker Hannifin fluid power distributor, has operations in eight southern states.
Unidare plc, Dublin, Ireland, reported six-month revenues for the period ended Mar. 31 for its North American ORS NASCO unit were $86.6 million, up from $81.0 million for the same period in 2003. Operating profit for the period for ORS NASCO was $2.3 million, up from $1.5 million in the same period in 2003. The company said it consolidated five small distribution centers into one major DC in California. ORS NASCO accounted for about 71% of the company's revenues, including European