Timken completes plan to separate its businesses into two independent publicly traded companies
Client(s) Timken Company, The
Jones Day advised The Timken Company in its spin-off of its steel business from its bearing and power transmission business. The bearings and power transmission business will continue to operate as The Timken Company. The new specialty steel company will operate as an independent corporation, headquartered in Stark County, Ohio, including approximately 3,000 employees, seven manufacturing plants, four warehouses, and five sales offices.