November 13, 2008

ERIKS, Dutch seals distributor, reported sales in the first nine months were up 16% to €826.2 million (US$1.03 billion) from the same period a year ago. Organic growth was 6.8%. Profit was up 27%.
 
The acquisition of Seals, Packings &Gaskets Ltd. was acquired in the first nine months of the year, and are a part of the results. Econosto results are also included for the past quarter.
 
More details here. …

The Timken Company, Canton, OH, has opened its $60 million small-bar steel rolling mill, expanding its portfolio of steel products. The new mill enables the company to produce steel bars down to 1 inch in diameter for use in power transmission and friction management applications. 
 
The company expects this steel to meet the needs of customers in the bearing, industrial, energy, distribution and automotive market sectors, including transplant automakers.
 
Our new small-bar mill is part of a strategic focus on driving differentiation in our steel products and expanding into new market sectors where we can grow profitably,”said Salvatore J. Miraglia, Jr., president of Timken’s Steel Group.
 
Timken collaborated on the design and construction of …

General Bearing Corp., West Nyack, NY, reported third quarter sales of $39.2 million, up 22.7% over the third quarter of 2007. Profit increased 15.5% to $2.2 million.
 
For the nine months ended Sept. 27, 2008, sales increased 12.9% over the prior year period to $108.5 million. Profit was $4.9 million, a decrease of 9%.
 
General Bearing manufactures ball bearings, tapered roller bearings, spherical roller bearings, and cylindrical roller bearings, and bearing components for original equipment manufacturers in the automobile, truck/trailer, railcar, office equipment, machinery and appliance industries, as well as the industrial aftermarket. …