In the steel company’s Canton, Ohio, facilities, only two people work per shift. The rest of the company, which manufactures and markets bearings and other accessories in 28 countries around the globe, is fully automated. Timken — the chief executive officer, president, and chairman — said his company will make efforts to grow its business with the excess funds made from the tariffs.
“Even though there is a high level of automation [at present], it’s important to recognize that you have to lean out your entire organization, you have to be as organized as possible, in order to compete in a global market that is awash with excess capacity,” Timken told CNBC on “Power Lunch” on Monday.
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