30
Oct
22:19
TimkenSteel looking for relief in cost-cutting, market expansion
US specialty steelmaker TimkenSteel plans to simultaneously cut costs and reach for new market niches to weather on-going market turmoil, executives said Friday on a conference call with analysts.
After cutting $25 million in costs in the third quarter, TimkenSteel plans to cut another $50m in Q4. The savings will partly be achieved by reducing its salaried staff by 8%, says TimkenSteel ceo Tim Timken.
Concurrently, TimkenSteel’s sales force is hunting …
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous