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Industry News
Manufacturers NewsManufacturers eye deals after downturnTheir ability to slash costs and raise productivity in the past couple of years means that many are generating enough cash to consider deals, share buybacks or increasing dividends.But that does not mean they are looking at transformational "bet the company" acquisitions -- the deals are more likely to be midsized transactions targeted at markets where the company already has a presence. "The focus is on bolt-on acquisitions that add new capabilities, new products and allow us to grow in attractive segments of the company," Timken Co (TKR.N) Chief Executive Jim Griffith said on Monday.Executives speaking at the Reuters Manufacturing and Transportation Summit in Chicago said the environment for deals has improved measurably since last year due to stability in the financing markets and improving valuations."The environment has certainly gotten a lot better than it was last year.
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