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Timken Layoffs At Dahlonega Plant

Release time : 2015-06-12 08:37:00
The Timken Company NYSE: TKR) will lay off approximately 25 workers from its plant in Dahlonega, Georgia. Dahlonega is a former Torrington plant; it manufactures needle roller bearings, primarily for auto industry customers in the U.S. Timken said the layoffs are a necessary response to a more than 15% dropoff in demand for bearings produced there. But the plant's hardest hit has come thanks to the freefalling demand for trucks and sport utility vehicles. The Dahlonega facility was built by Torrington in 1980; Timken had expanded there and recently added 15,000 square feet of warehouse space. The layoffs involve approximately 10% of Dahlonega's workforce