July 2009

Mary Sue Lyon, who has lead the Power Transmission Distributors Association for 15 years, will retire as executive vice president at the end of 2010.

In a letter to PTDA’s members, past PTDA president John Masek of Bearing Service Inc., Livonia, MI, and current PTDA president Drew Tucci of Eastern Bearings, Inc., Waltham, MA, commended Lyon on her outstanding leadership and commitment to making PTDA into the premiere networking and educational organization in our industry."

Lyon joined PTDA as the executive vice president in August 1994.

Lyon says the decision to retire was tough."My 15 years at PTDA have been a pleasure andthatis largely due to the individuals who have shown great leadership, vision and commitment to the Association and the industry," she said. "It has been …

Flowserve Corp., Dallas, TX, reported sales for the second quarter 2009 were $1.09 billion, down 6% from the prior year period. Profit declined 11.9% to $108.2 million.

For the first six months, sales were $2.12 billion, down 2% from the first half of 2008. Profit decreased 4.9% to $200.5 million.

"While we continue to see our markets impacted by the challenging global economic conditions, we are very pleased with the improvement we saw in sequential quarter over quarter bookings and sales," said Lewis Kling, president and CEO. "The continued realignment improvements we made this quarter to our operating platform should not only drive benefits that we will realize later in 2009, but are expected to strengthen the company for growth opportunities well into the future."

Flowserve …

The Timken Company, Canton, OH, reported sales of $828.9 million for the second quarter of 2009, a decrease of 46% over the same period a year ago. The manufacturer of power transmission products recorded a loss of $64.5 million for the term, compared with profit of $88.9 million a year ago.

"The combination of a slow economy and inventory reduction throughout the supply chains we serve continues to curb demand for our products. We’re now seeing evidence that our customers’ inventory destocking activities may go longer and deeper than we expected," said James W. Griffith, president and CEO. "We have decreased manufacturing output in response to lower demand and are on track in our efforts to right-size the company."

For the first half of 2009, sales were $1.79 billion, down 40% …