CANTON, Ohio, Dec 21, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- The Timken Company (NYSE: TKR) today announced that Philip D. Fracassa has joined the company as vice president - tax. Fracassa will be responsible for the company's global tax reporting, planning and strategy.
"Phil brings a broad range of experience to Timken, including proven success in leading a corporate tax function," said Sallie B. Bailey, senior vice president - finance and controller. "He is a welcome addition to our leadership team and has a global perspective on tax strategy that will be valuable to Timken as we continue to position the company to grow in key global markets."
Prior to joining Timken, Fracassa was senior tax counsel and director of taxes for Visteon Corporation, where he had responsibility for the automotive supplier's global tax function. He began his career with Price Waterhouse LLP in Detroit and also served as a tax attorney with General Motors Corporation.
Fracassa received a bachelor's degree in accounting from the University of Detroit and a juris doctor degree from the University of Detroit Mercy School of Law.
He is a certified public accountant and licensed attorney in the state of Michigan. He is a member of the State Bar of Michigan and the Tax Executives Institute.
About The Timken Company
The Timken Company, (NYSE: TKR, www.timken.com) keeps the world turning, with innovative ways to make customers' products run smoother, faster and more efficiently. Timken's highly engineered bearings, alloy steels and related products and services turn up everywhere. With operations in 27 countries, sales of $4.5 billion in 2004 and 26,000 employees, Timken is Where You Turn™ for better performance.
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