Timken To Close Engine MRO

US-based bearings and transmission manufacturer Timken is shutting its engine overhaul business in Mesa, Arizona, in a bid to improve the fortunes of its aerospace business. The facility will be closed before the end of the year and is part of a restructure that will also see Timken close its aerospace bearings facility in the UK. In a statement published yesterday (September 8), Timken also confirmed that it was evaluating “strategic alternatives” for its MRO parts business in Mesa and that its aerospace division was to be incorporated into the rest of the organisation, with leadership positions in the business area to be made redundant. The cost of closing the businesses is expected to be less than $10m (pre-tax), and Timken predicts that the changes to its aerospace will have only a “negligible impact” on its 2015 revenues.

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