Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Timken - TKR - Acquires Wazee Companies

Wednesday, January 2, 2013 11:51 AM
The Timken Company (NYSE: TKR) announced its acquisition of the assets of Wazee Companies, LLC, a regional leader providing motor, generator, wind and industrial crane services to diverse end markets including oil and gas, wind, agriculture, material handling and construction.  The addition of Wazee to The Timken Company's process industries segment further expands the footprint of the Timken industrial services business. Based in Denver, Colo., Wazee had trailing 12-month sales through December 2012 of approximately $30 million. The acquisition brings Timken additional diversified services including motor rewind, generator rebuild, electric controls, industrial bridge cranes and uptower wind maintenance and repair, operating from four western U.S. locations. "We continue to focus our strategy on further diversifying the Timken services portfolio," said Carl Rapp, vice president of industrial services for Timken.  "Wazee complements our industrial repair capabilities at existing customers and takes us into critical motor and generator services. "Wazee has a strong reputation in the region it serves and is led by an experienced management team," said Rapp. "They bring great technical skills and provide an excellent footprint for us to expand our bearing and gearbox repair services." Wazee currently operates out of four locations—two in the Denver area, one in Pasco, Wash., and another in Casper, Wyo. Wazee has more than 100 employees. The purchase includes assets from Wazee's 2011 acquisition of H&N Electric, Inc., which also offers repair, maintenance and overhaul services for critical motors and wind generators in the Pacific Northwest region. About Wazee Companies Wazee Companies, LLC, is recognized for its quality, reliable service and workmanship repairing electric motors and generators, crane manufacturing and wind turbine service. Based in Denver, Colo., Wazee provides electrical and mechanical solutions to aerospace, manufacturing, municipalities, mining, power generation, oil and gas and other heavy industrial customers. About The Timken Company - TKR The Timken Company (TKR), a global industrial technology leader, applies its deep knowledge of metallurgy, friction management and power transmission to improve the reliability and efficiency of machinery all around the world. TKR engineers, manufactures and markets mechanical components and high-performance steel.  Timken® bearings, engineered-steel bars and tubes—as well as transmissions, gearboxes, chain and related products and services—support diversified markets worldwide. With sales of $5.2 billion in 2011 and approximately 21,000 people operating from 30 countries, TKR makes the world more productive and keeps industry in motion.
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

U.S. holiday sales may recover with help of deep discountsU.S. holiday sales may recover with help of deep discounts
CHICAGO (Reuters) - Despite a disappointing Thanksgiving weekend, U.S. holiday sales may squeak by expectations if steeper and longer-running discounts lure enough shoppers. An uptick in last-minu...
EU leaders agree investment package to boost economyEU leaders agree investment package to boost economy
BRUSSELS (Reuters) - European Union leaders endorsed a new investment programme intended to kick start economic growth in the bloc at a summit in Brussels, which its chairman said would end late on ...
Canada unveils plan to auction wireless spectrumCanada unveils plan to auction wireless spectrum
TORONTO (Reuters) - The Canadian government unveiled a major update to its plan to allocate airwaves for mobile use on Thursday, and said an auction of high-frequency AWS-3 spectrum will begin on Marc...
Canada unveils major wireless spectrum planCanada unveils major wireless spectrum plan
TORONTO (Reuters) - The Canadian government unveiled a major update to its wireless airwave policy on Thursday, as it seeks to lower cellphone bills and bolster its coffers ahead of a federal electi...
EU leaders seek to overcome hostility to U.S. trade dealEU leaders seek to overcome hostility to U.S. trade deal
BRUSSELS (Reuters) - EU leaders defended plans for the world`s biggest trade deal with the United States, seeking on Thursday to counter hostility in Europe and clear the way for the accord to be ag...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
arrow
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
Forex Forex Signals major FX pairs signals