Cairo plant sold to foreign owner -, South Georgia News, Weather, Sports

Cairo plant sold to foreign owner

By Christian Jennings - bio | email

CAIRO, GA (WALB) -  The Timken automotive parts in Cairo is being sold to a Japanense firm.

JTEKT Corporation signed an agreement to purchase the Needle Roller bearing business of Timken, which includes the Cairo plant.

Timken sold the plant for more than $330 million. JTEKT plans to grow the business, and keeping the same workers and administration on staff.

The sale is expected to be complete by the end of the year.

About 260 people work at the Cairo plant.


©2009 WALB News. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.  Feedback

Powered by Frankly