The Timken Company, Canton, OH, reported sales of $1.35 billion in the second quarter of 2007, an increase of 4% over the same period a year ago. Strong sales in industrial markets were partially offset by the divestment of the company’s automotive steering and European steel operations.
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During the quarter, the company:
- Completed the first major U.S. implementation of Project O.N.E., a program designed to improve business processes and systems;
- Made further progress on key additions to Industrial Group capacity in Asia and North America;
- Advanced its restructuring initiatives within its Automotive and Industrial Groups; and
- Completed the closure …
