The 2020 Mid-Year Economic Update_long

Timken Reorganizes Into Two Business Groups

The Timken Company, Canton, OH, will realign the company around two major business groups, the Steel Group and the Bearings and Power Transmission Group. The latter is composed of four divisions -Mobile Industries, Process Industries, Aerospace & Defense and Distribution & Services.
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The company has named Michael C. Arnold as executive vice president and president, Bearings and Power Transmission Group. Salvatore J. Miraglia, Jr., will continue as president of the Steel Group.
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Before, Timken had three groups: Steel, Industrial and Automotive.
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The organizational changes are focused primarily on improving Timken's operating effectiveness and are also anticipated to streamline operations and eliminate redundancies. When fully implemented, the ...

The Timken Company, Canton, OH, will realign the company around two major business groups, the Steel Group and the Bearings and Power Transmission Group. The latter is composed of four divisions -Mobile Industries, Process Industries, Aerospace & Defense and Distribution & Services.
&nbsp ;
The company has named Michael C. Arnold as executive vice president and president, Bearings and Power Transmission Group. Salvatore J. Miraglia, Jr., will continue as president of the Steel Group.
&nbsp ;
Before, Timken had three groups: Steel, Industrial and Automotive.
&nbsp ;
The organizational changes are focused primarily on improving Timken’s operating effectiveness and are also anticipated to streamline operations and eliminate redundancies. When fully implemented, the company expects to save $10 million to $20 million.
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Timken’s new Bearings and Power Transmission Group includes four divisions:
Mobile Industries – composed of the rail, off-highway, agriculture, heavy truck and passenger car and light truck market sectors; Process Industries – encompasses the heavy industry, power transmission and energy market sectors; Aerospace & Defense – serves the friction-management and power-transmission needs of commercial and military aviation customers through original equipment manufacturers and the aerospace aftermarket; and Distribution & Services – provides a full range of bearings, seals, grease, condition monitoring and other products and services through distributors worldwide.
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The Timken Company had sales of $5 billion in 2006.

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