TIMKEN LOOKS FOR NEW AVENUES TO BOLSTER BUSINESS

Article Abstract:

Timken Co of the US is looking to expand its operations in India after acquiring Tata Steel's 40 percent holding in Tata Timken Ltd (TTL). The US bearings major has now increased its stake in TTL to 80 percent. Sources say that it is looking to acquire steel units in India. The company also plans to rename TTL as Timken India Ltd and reconstitute the existing management. TTL is the second largest manufacturer of all purpose bearings in India and has a 28 percent share of the market. (khr)

United States, Asset sales & divestitures, Ball and roller bearings, Ball Bearings, Tata Timken Ltd.

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TIMKEN NOT TO BUY OUT 20% PUBLIC STAKE IN TATA-TIMKEN

Article Abstract:

The Timken Company of the US, which is increasing its equity stake in Tata-Timken to 80 percent, has decided not to acquire the 20 percent public holding in the bearings manufacturing company. Timken is waiting for clearance from the Foreign Investment Promotion Board to acquire Tata's 40 percent holding in Tata-Timken. (khr)

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