NYSE: TKR THE TIMKEN COMPANY Investment Thesis The Timken Company is the largest tapered roller bearings manufacturer in the world and one of the largest manufacturers of alloy and specialized steel in the world. The company reports revenues in three business segments: Steel (31% of 2005 revenue)‚ Automotive (32%)‚ and Industrial (37%). I feel that Timken is capable of delivering solid EPS and top-line revenue growth over the next two years‚ driven largely by demand for industrial bearings and
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CASE 46 THE TIMKEN COMPANY Teaching Note Synopsis and Objectives The acquisition of Torrington from Ingersoll-Rand (IR) required a strategy that would meet both the investment and the financing objectives of the Timken Company. In that regard‚ the case provides an excellent example of the principle that investment and financing decisions can be considered independently. In effect‚ Timken captured the positive NPV of Torrington even though Timken was required to increase its leverage beyond
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What are your major terminal and instrumental values? Which values‚ terminal or instrumental‚ are valid predictors of career success in the workplace? To what extent do you believe your personal values are aligned with the values of your organization?? What impact does this have on your sense of belongingness/fit with your organization? My major terminal values are freedom‚ self respect‚ a sense of accomplishment and inner Harmony. Of course after I thought about the other words listed I wanted
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THE TIMKEN COMPANY In 2002‚ The Timken Company was considering acquiring The Torrington Company from Ingersoll-Rand. The acquisition would make a clear statement to the market about Timken’s commitment to remain a worldwide leader in the bearing industry as it would result in the combination of more than 100 years of bearing manufacturing and development experience. Because the two companies shared many of the same customers but had few products in common‚ customers would surely appreciate the
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project.” Gordon East‚ IT Manager‚ Timken Business Needs Timken‚ a 109-year-old company‚ is a longtime leader in the production of antifriction bearings and specialty steel. The company began as a carriage maker before the advent of the mass production of automobiles and now has offices in 27 countries and 25‚000 employees. Timken competes in a global marketplace that requires companies to adapt to ever-changing financial conditions. Executives at Timken were anxious to rebuild the company’s
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The Timken Company Due Date: Tuesday‚ Sept 17th‚ 2013‚ 5pm. Presentation Date: Sept 18th‚ in class. Please e-mail me an electronic copy of the report before the deadline. At the beginning of the class on Wed.‚ please also submit a printed copy. The names of all group members should be specified at the top of the report. For Lead Group: case report should be no longer than six pages of text (double space‚ Font 11‚ 1 inch margin on all sides). You should also include any additional financial
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Individual Case Brief-The Timken Company Main Issue The Timken Company was intended to acquire the Torrington Company from Intersoll-Rand (IR). If the acquisition succeeded‚ Timken would get synergies such as boosting world market share and cutting costs substantially. However‚ considering the large size of this acquisition‚ Timken would face the stress of below-investment-grade rating and series of future financing problems if IR required a cash deal. A feasible financing structure must be considered
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Calculating correlation values for categorical data In order to find the correlation values for the fields in our data set‚ The Pearson Correlation Coefficient was used. This requires that the data in both fields be quantitative. But what if we were looking to calculate the correlation on two given fields that were say‚ numerical and categorical‚ or even both categorical. The Point Biserial coefficient is a special case of The Pearson Correlation Coefficient; it is a branch of PCC although they
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USEC Capital Budgeting Case Questions In one paragraph (max 5 sentences)‚ describe the general situation faced by USEC: USEC is the lead supplier of enriched uranium‚ which is used to fuel nuclear reactors. Due to an expiring contract with a power supplier‚ the production of Uranium fuel became very expensive at the current Paducah plant. USEC created a new plant called APC in an attempt to advance technology and become the low cost producers in the Uranium industry. Mackovjak is a financial analyst
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to explain the implications of case Exhibit 1 (Paige Simon’s first task). Based on that exhibit‚ is terminal value (TV) a material component of firm values? From the exhibit‚ we can find the PV of five years’ dividends is small part of the market price of the stock. In my opinion‚ we buy a stock then get dividend periodically‚ which like buy a bond. The coupon payment is dividend and the face value is terminal value. The bond value is determined by the terminal value mostly. So the stock price is
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