The Timken Company, Canton, OH, reported sales of $5 billion for 2006, up 3% from a year ago. Sales exclude Latrobe Steel, which the company sold in December and has accounted for as discontinued operations.
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Timken benefited from strength in global industrial markets, partially offset by declines in demand from the company’s North American automotive customers during the second half of 2006.
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Timken benefited from strong industrial markets in 2006, although lower automotive demand constrained our overall performance, said James W. Griffith, Timken’s president and CEO. More importantly, we advanced sweeping changes across the company, including initiatives to grow in Asia and key industrial markets, investments to differentiate our …
