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Stock Market & Financial Investment News

News Breaks
February 28, 2013
17:06 EDTGBX, TKRGreenbrier sells wheelset roller bearing reconditioning business to Timken
The Greenbrier Companies (GBX) announced it has entered an asset purchase agreement with The Timken Company (TKR) for sale of substantially all the equipment utilized in Greenbrier's reconditioned wheelset roller bearing operations in Elizabethtown, Kentucky. Concurrent with the sale, Greenbrier will enter into a long-term supply agreement with Timken for reconditioned and new bearings. The companies did not disclose the asset purchase price. Closing of the transaction is expected before the conclusion of Greenbrier's Q3 ending May 31.
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November 19, 2015
07:34 EDTTKRTimken to build new bearing plant in Romania
Timken will construct a new bearing plant near Ploiesti, Romania. The facility, which will be the company's second in Romania, will serve global demand for the company's Timken tapered roller bearings in sizes up to 300 mm in diameter. Groundbreaking on the 15,000-square-meter site is expected in 1Q16, with start-up slated for early 2017. Initially, the facility will be operated by 120 associates.

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