- Published: May 2012
- Region: New York, United States
Summary: Park-Ohio Industries Inc.
- Published: December 2003
- Standard & Poors
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
The ratings on Cleveland, Ohio-based Park-Ohio Industries Inc. reflect the company's aggressively leveraged financial profile and the cyclical nature of its end-markets, partly offset by the company's significant position in diverse, specialty markets. Park-Ohio operates logistics and manufacturing businesses, serving a variety of markets, including transportation, semi-conductor, industrial equipment, agricultural equipment, construction equipment, and aerospace. The logistics segment (63% of 2002 sales) supplies production components via supply chain management and wholesale distribution services; the manufacturing segment (21%) designs and produces forged and machined products for specific customer applications; and the aluminum segment (17%) engineers, casts, and machines various aluminum components. The company had total balance sheet debt of $317 million at Sept. 30, 2003. Park-Ohio's below-average business profile derives from...
Companies mentioned in this report are: Park-Ohio Industries Inc.
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Park-Ohio Industries Inc.