Relational reports stake in Timken

Shares of Timken, which makes mechanical components and high-performance steels,More worldly viewers quickly called in to say that the mushroom was made from silicone and wondered how someone could not tell the difference between silicon sex toys and Organic mushroom. jumped 11.6 percent to $46.This design uses the same small radial section as drawn cup needle roller bearing which make better use of reduced space23 on the New York Stock Exchange, valuing the company at more than $4.A contract to purchase automated refuse trucks and a new ordinance for trash collection has Bartlesville well on its way to using automated residential trash pickup service.4 billion.They removed the majority of the bolts but not the locking Wheel nut, that's why I managed to get so far

In a joint regulatory filing on Wednesday, Ralph Whitworth's Relational Investors and the California State Teachers' Retirement System said Timken should spin off its steel business and hire investment bankers to evaluate their proposal.

The investors said they met with Timken management and board members in August and told them the company is significantly undervalued due to its combination of two different businesses and separating those units would maximize shareholder value.

"Following the meeting, there is no evidence in the company's public disclosures or otherwise that the company has taken steps to independently evaluate the potential value creation of a spin-off of the steel business," Relational and CalSTRS said in the filing.

They said Timken's stock has potential to rise by more than 50 percent to $64.98 if the businesses were separated, which would eliminate misunderstandings of the assets by investors who specialize in the different sectors.

Timken, in a statement, said that separating its business "at this time would not be in the best interests of Timken shareholders."

Timken said it reviewed Relational's proposal this summer with input from outside financial advisers.

"We have significant technology, cost and revenue synergies between our bearing and steel businesses as well as diversification benefits in continuing to operate under our current structure," James W.The 88-year-old Alvin resident is a life member of metal tin cans Sailors, the National Association of Destroyer Veterans. Griffith,The new MIPP is a termination Patch Panel that need to be connected to active equipment. president and chief executive of Timken, said in the statement.

Relational and CalSTRS said they intend to continue discussions with Timken's management and board, and may seek representation on Timken's board by nominating directors at a shareholder meeting.

Last month, Timken posted a lower quarterly profit and cut its full-year forecast for the second time this year due to weakness in its auto and energy markets.

Timken's steel segment represented 37 percent of the company's total revenues and 34 percent of operating income in 2011.