Timken Is A Much Higher Quality Company After Its Transformation

Resource from: Seeking Alpha Likes:203

Dec 30,2015

Over the course of the last few years, the company has divested various unattractive automotive businesses and completed the spin off of the steel business. Acquisitions should be a significant driver of growth going forward, as the company gains scale and expands into adjacent valued added markets. The company also has various cost reduction initiatives and an expanding global footprint that will allow it to compete effectively with low-cost producers. Thesis Timken (NYSE: TKR) has gone through a remarkable transformation over the course of the last few years. After spending hundreds of millions on restructuring, spinning off the capital-eating steel business, and forming a capital allocation framework that emphasizes growth in the right areas, the company is well-positioned for long-term value creation. Near-term market headwinds persist, though, and there could be a bit more downside in the meantime. Company Description Timken is North America's largest manufacturer of bearings and one of the six major players in the global market. Other product offerings include transmissions, gearboxes, chains, and related services. The slide below, taken from an investor presentation, gives a nice overview of the company's operations.

(Seeking Alpha)

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