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

Total's new boss says Europe must fight U.S. oil export banTotal's new boss says Europe must fight U.S. oil export ban
LONDON (Reuters) - The new head of French energy major Total <TOTF.PA> challenged Europe to fight Washington over the U.S. oil export ban, in his first public appearance since his predecessor ...
U.S. regulator orders Takata to provide documents related to faulty air bagsU.S. regulator orders Takata to provide documents related to faulty air bags
DETROIT (Reuters) - U.S. auto safety regulators on Thursday ordered Japanese supplier Takata Corp to provide documents and answer questions under oath related to the government`s ongoing probe of po...
Raymond James reports strongest recruiting year since 2009Raymond James reports strongest recruiting year since 2009
NEW YORK (Reuters) - Brokerage and investment bank Raymond James Financial Inc just completed its best broker recruiting year since 2009, the firm reported on Thursday. The firm added a net of 68 ...
Efforts to replace Fed hawks Plosser, Fisher pick up speedEfforts to replace Fed hawks Plosser, Fisher pick up speed
(Reuters) - Two regional Federal Reserve banks have taken steps to replace their hawkish presidents, Charles Plosser and Richard Fisher, whose departures early next year could change the tenor of de...
Whirlpool wins first trial over 'moldy' washersWhirlpool wins first trial over 'moldy' washers
NEW YORK (Reuters) - Whirlpool Corp was found not liable Thursday by a U.S. jury in the first lawsuit to go to trial accusing the company of selling front-loading washing machines containing a desig...

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.