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March 24, 2014
14:33 EDTTKRTimken signs JV agreement with United Wagon Company
The Timken Company has entered into an agreement with United Wagon Company, a leader in building, leasing, engineering and servicing freight cars in Russia, to establish a joint venture to manufacture Timken AP-2 rail bearings in Russia. The JV will advance the safety, reliability and efficiency of the local rail industry, equipping customers' freight cars with premium Timken bearings. The JV is contingent upon various regulatory approvals and other commercial and customary conditions. As part of the agreement, Timken and UWC will establish dedicated manufacturing capacity, with construction expected to start within the next several months. This JV expands upon an established relationship between the two companies, which was formalized in 2013 with a strategic partnership agreement covering technical and design support and an initial supply of Timken AP-2 bearings to UWC.
News For TKR From The Last 14 Days
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October 28, 2014
07:30 EDTTKRTimken expects to generate cash from operatoins of $305M in 2014
Free cash flow is projected to be $190M after making capital expenditures of $115M.
07:30 EDTTKRTimken sees FY14 Mobile Industries sales to be down 5%
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07:29 EDTTKRTimken raises FY14 adjusted EPS to $2.45-$2.55 from $2.40-$2.60, consensus $2.50
Sees FY14 revenue from continuing operations to increase 2%, consensus $3.12B.
07:27 EDTTKRTimken reports Q3 adjusted EPS 77c, consensus 65c
Reports Q3 revenue $788M, consensus $783.11M
October 16, 2014
15:07 EDTTKRTimken, others interested in Emerson power transmission unit, Reuters says
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