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Unformatted text preview: The Good Times Are Back for Some Manufacturers Reviewer: James J.Stewart, DSc Abstract On his frequent trips to Shanghai, Timken CEO James W. Griffith sees cars on freeways and cranes at construction sites powered in part by the steel bearings his company has made for 111 years. Tepid economic growth and unemployment dominate the headlines in the U.S., but there are opportunities for our products in developing countries, he says. In China, even in a bad year, the economy will grow 6 percent to 8 percent. Factory production at many U.S. manufacturers is slowing, but not at Canton (Ohio)-based Timken or at Parker Hannifin, a Cleveland hydraulics concern, or at Kennametal, a Latrobe (Pa.) maker of cutting tools and machinery components. These midsized companies in the Midwest have figured out how to thrive in an economic environment that has been a lot less kind to many other companies that make things. Timken, Kennametal, Parker Hannifin and others like them are benefiting from focusing on high-end niche products, which are difficult for competitors to...
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This note was uploaded on 01/20/2012 for the course MGT 3200 taught by Professor Moodie during the Spring '08 term at Kennesaw.
- Spring '08