Timken sells automotive steering unit

Newswire

Dec 19 (Reuters) - Timken Co. sold its automotive steering business to DriveSol Worldwide Inc., an affiliate of Sun Capital Partners Inc., as part of a plan to restructure the company's automotive group. Timken did not disclose the terms of the deal. The steering business, which had sales of $110 million in 2005, employs about 600 people at the Watertown plant and about 300 people in Brazil, the maker of bearings and alloy steel said in a statement. (Reporting by Anant Vijay Kala in ...

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