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In 2003, the Timken company acquired its largest domestic competitor in the bearing business—The Torrington Company of Torrington, Connecticut through negotiations by Glenn Eisenberg, currently the CFO of Timken. Torrington had lower-cost operations in the southern United States, and most all of its plants were non-union. Because of these labor cost considerations, Timken announced that it would end its bearing manufacturing operations in Canton within five years and eliminate about 1,500 jobs in the Canton area. Recently, negotiations with the union representing Canton-area workers to lower costs at its facilities fell through when the union rejected the management's plan.