Oct. 13, 2006 — The Timken Co. announced its intention to exit the company’s European seamless steel tube manufacturing operations in Desford, England.

Timken says its exit from this business is part of the company’s strategy to improve performance by better managing its business portfolio. In conjunction with its proposed exit of the business, Timken said it would intend to sell some portion of the plant's assets and secure a reliable alternative source of steel tube for its European bearing operations.

"The proposed action is part of the company's strategy to focus on lines of business that produce differentiated products while driving profitable growth," said Salvatore J. Miraglia Jr., President of Timken's Steel Group. "Exiting this business would further advance the focus of the Steel Group on differentiated products that deliver value to both customers and shareholders."

Timken plans to begin consultations with representatives of the 400 associates located at the Desford facility to explore alternative solutions to closure. Although the facility generated sales of approximately $85 to $95 million in recent years, it has not been profitable. It manufactures seamless steel tube for machining and mechanical applications, primarily serving the bearing industry in Europe.