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Timken Acquires Lagersmit For Undisclosed Terms
(RTTNews) - The Timken Co. (TKR) announced Thursday it has acquired Lagersmit, a Netherlands-based manufacturer of highly engineered sealing solutions for demanding marine, dredging, water, tidal energy and other industrial applications.
The Lagersmit business is expected to generate around $40 million in revenue in calendar year 2023. The results for the business will be included in Timken's Industrial Motion segment.
Timken funded the transaction with cash on hand and its existing revolving credit facility. Other terms of the transaction were not disclosed.
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Timken To Acquire Engineered Solutions Group For Undisclosed Terms
The Timken Co. (TKR) on Monday reached an agreement to acquire Engineered Solutions Group (a.k.a. Innovative Mechanical Solutions or iMECH), based in Houston, Texas. The terms of the deal were not disclosed.
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730 days ago
Timken Acquires Des-Case For Undisclosed Terms
The Timken Co. (TKR) announced Tuesday it has acquired Nashville, Tennessee-based Des-Case Corp., a manufacturer of specialty filtration products for industrial lubricants. Terms of the deal were not disclosed.
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771 days ago
Timken Guides FY23 In Line With View; Q4 Adj. EPS Tops Estimates
While reporting financial results for the fourth quarter on Monday, Timken Co. (TKR) initiated its earnings, adjusted earnings and revenue growth guidance for the full-year 2023.
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982 days ago
U.S. Mortgage Applications Fall For Third Week: MBA
Mortgage applications for house purchase in the U.S. decreased for a third week in a row, survey results from the Mortgage Bankers Association showed on Wednesday.
The market composite index, which measures the house purchase mortgage loan application volume, dropped a seasonally adjusted 1.8 percent in the week ended October 10 following a 4.7 percent decline in the previous week, results of th
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1h 8min ago
New York Manufacturing Index Unexpectedly Indicates Growth In October
New York manufacturing activity has seen a significant turnaround in the month of October, according to a report released by the Federal Reserve Bank of New York on Wednesday. The New York Fed said its general business conditions index surged to a positive 10.7 in October after plunging to a negative 8.7 in September, with a positive reading indicating growth.
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4h 2min ago
Bay Street Likely To Open Higher Again
Canadian shares are likely to open on a positive note Wednesday morning, tracking the firm trend in European markets, and higher commodity prices.
The undertone is likely to remain firm amid expectations of an interest rate cut by the Federal Reserve at its upcoming monetary policy meeting.
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5h 4min ago
New York Manufacturing Index Unexpectedly Returns To Positive Territory
New York manufacturing activity has seen a significant turnaround in the month of October, according to a report released by the Federal Reserve Bank of New York on Wednesday.
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5h 6min ago
Eurozone Industrial Production Declines
Eurozone industrial production logged a monthly fall in August, reflecting the uncertainty surrounding the global trade environment. Industrial output dropped 1.2 percent month-on-month, in contrast to the 0.5 percent increase in July, Eurostat said Wednesday. However, the decline was less severe than the forecast of 1.6 percent.
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5h 28min ago
