TimkenSteel, a subsidiary of Timken Company, begins trading on the New York Stock Exchange on Tuesday under the ticker symbol "TMST." TimkenSteel was recently spun off from Timken Company, which will retain the bearings manufacturing and other parts of the business. TimkenSteel chairman, president and chief executive Ward J. "Tim" Timken, Jr. explains how the spinoff will create more value for shareholders and how the company will combat challenges like global oversupply and higher costs. Timken also addresses concern that the spinoff will consequently make both companies more susceptible to a takeover. TheStreet's Brittany Umar reports from the New York Stock Exchange.