Timken expands S.C. plant's role in wind turbines

The Timken Co.’s Tyger River plant in Spartanburg County has been retooled and expanded along with other Timken facilities to supply the growing market for bearings in wind turbines. Canton, Ohio-based Timken said Thursday it has received a contract worth $26 million to supply wind turbine products and services to China's Xinjiang Goldwind Science & Technology Co., one of the world's top five wind power equipment manufacturers.  Read More...

South Financial, shareholders negotiating settlement

The South Financial Group said Wednesday it entered into a memorandum of understanding with shareholders who filed suit challenging its merger with TD Bank Financial Group. The MOU lays the groundwork for a settlement in the case.  Read More...

Law changes cut Advance America profits

Advance America, Cash Advance Centers, Inc. of Spartanburg today reported a 14.6% drop in net income for the first half of the year. The company said revenues have been hindered by regulatory changes in several states, including South Carolina, that limit small, short-term loans to consumers.  Read More...

Kemet sales rebounding

Kemet Corp. said Wednesday that sales for its fiscal first quarter ended June 30 increased 62.3% from last year and have returned to pre-recession levels. Still, the Simpsonville-based manufacturer reported a net loss of $20.1 million for the quarter as it took a non-cash loss on early extinguishment of debt.  Read More...

Lower volume leads to quarterly decline for Span-America

Greenville-based Span-America Medical Systems Inc. today reported net sales of $13.2 million for the third quarter ended July 3, an 8% decline compared to the same quarter last year. Net income was $945,000 for the third quarter. Read More...