Updates on Completed Projects, Corporate Restructuring, and Leadership Change - Research Report on GE, UTC, Ingersoll Rand, Timken, and Lincoln Electric Editor Note: For more information about this release, please scroll to bottom.
NEW YORK, September 10, 2013 /PRNewswire/ --
Today, Analysts' Corner announced new research reports highlighting General Electric Company (NYSE: GE), United Technologies Corporation (NYSE: UTX), Ingersoll-Rand plc (NYSE: IR), The Timken Company (NYSE: TKR), and Lincoln Electric Holdings, Inc. (NASDAQ: LECO). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
General Electric Company Research Report
On September 5, 2013, GE Oil & Gas, a division of General Electric Company (GE), announced that it has completed the assembly of the final group of subsea production trees for the Chevron-operated Gorgon Project, a natural gas project located off the coast of Western Australia. According to GE Oil & Gas, the 20 subsea trees are the first 7-inch, full bore trees that it has ever produced, at twice the capacity of those previously manufactured by GE. According to GE Oil & Gas, the final shipment of trees has set off to Western Australia and will be transported to GE's Jandakot service and training facility in Perth for pre-installation testing before being deployed in the Greater Gorgon fields where it will operate at depths of up to 1,350 meters (4,429 feet). The subsea trees supply contract is part of a series of agreements with Chevron, valued at a combined $1.7 billion. The Full Research Report on General Electric Company - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/6f32_GE]
United Technologies Corporation Research Report
On September 3, 2013, United Technologies Corporation (UTC) announced that Paul R. Adams, currently Chief Operating Officer of Pratt & Whitney, will succeed David P. Hess as President of Pratt & Whitney on January 1, 2014, when Hess retires. Commenting on the leadership change, UTC Propulsion & Aerospace Systems President & Chief Executive Officer Alain M. Bellemare, said, "We will focus on a successful transition through year end." He added, "Under Paul's leadership, Pratt & Whitney will sustain its strong momentum in technology development, ensure operational excellence in support of its production ramp up and continue to deliver superior value to customers." The Full Research Report on United Technologies Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/96c3_UTX]
Ingersoll-Rand plc Research Report
On September 5, 2013, Ingersoll-Rand plc (Ingersoll Rand) announced that Susan K. Carter will join the Company as Senior Vice President and Chief Financial Officer, effective September 27, 2013. The Company stated that in this role, Carter will lead the financial strategy of the Company and be responsible for all the finance functions, including investor relations, treasury, external reporting, audit, tax, risk management, business development, business unit finance, and real estate. Carter succeeds Steve Shawley, who will stay with the Company during a transition period and retire before the end of 2013. The Full Research Report on Ingersoll Rand plc - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/344f_IR]
The Timken Company Research Report
On September 5, 2013, The Timken Company (Timken) announced that the Company's Board of Directors has approved a plan to pursue a separation of the Company's steel business from its bearings and power transmission (B&PT) business through a spinoff, which will create two publicly traded companies. The Company stated that the new engineered steel company will operate as an independent publicly held company with estimated annual revenue of approximately $1.7 billion, while the B&PT business will continue to operate as The Timken Company with estimated annual revenue of approximately $3.4 billion. Timken informed that it expects the transaction, which should be completed within 12 months, to be tax-free to shareholders. James W. Griffith will stay with Timken until the separation is complete and will retire afterwards, to be succeeded by Richard G. Kyle as the new President and Chief Executive Officer. According to the Company, the Board plans to name John M. Timken, Jr. as Non-Executive Chairman upon separation. The Full Research Report on The Timken Company - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/6d57_TKR]
Lincoln Electric Holdings, Inc. Research Report
On September 4, 2013, Lincoln Electric Holdings, Ltd. (Lincoln Electric) announced Vantage 300, an EPA Tier 4-compliant, multi-process, industrial, diesel-engine-drive welding solution for construction teams, pipe-rig owners and rental-fleet managers. According to the Company, the unit's four-cylinder Kubota V1505 EPA Tier 4-compliant, water-cooled diesel engine with a gear-driven camshaft has a closed breather system to keep the engine compartment ground clean. Its Vantage 300 features five welding process modes, including stick, Touch Start TIG, MIG, and flux-cored plus a separate arc-gouging mode. Lastly, Lincoln Electric added that the Vantage 300 offers three-phase 240-volt AC generator power, with a 12.5 kilowatt peak (11-kilowatt continuous) for equipment like plasma cutters, pumps or inverter welders, among other common construction tools. The Full Research Report on Lincoln Electric Holdings, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/3644_LECO]
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