##### Table of Contents





UNITED STATES SECURITIES AND
    EXCHANGE COMMISSIONWashington, D.C.
    20549
  Form 10-Q
   (Mark One)þ

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)  OF THE
    SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended
    March 31,
    2010oro

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934For the transition period
    from          to   Commission file number 333-43005-01
  Park-Ohio Industries,
    Inc.
 (Exact name of registrant as
    specified in its charter)
   Ohio(State or other jurisdiction ofincorporation or organization)6065 Parkland Boulevard, Cleveland, Ohio(Address of principal executive offices)

34-6520107(I.R.S. EmployerIdentification No.)44124(Zip Code)   440/947-2000
 (Registrants telephone number, including area code)
  Pursuant to a corporate reorganization effective
    June 15, 1998,
 Park-Ohio Industries, Inc. became a wholly-owned subsidiary
    of Park-Ohio Holdings Corp.
       (1)
    Has filed all reports required to be filed by Section 13 or
    15(d) of the Securities Exchange Act of 1934 during the
    preceding twelve months (or for such shorter period that the
    registrant was required to file such reports) and(2)
    Has been subject to such filing requirements for the past
    90 days.  Yes o     No þ  Regulation S-T o o
    Large
    accelerated filer
    o
    Accelerated
    filer
    o
    
    Non-accelerated
    filer þ
    
    Smaller
    reporting
    Company o   Rule 12b-2 o þ
     The
    Exhibit Index is located on page 24.




---



##### 





PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  INDEX
   
 PagePART I. FINANCIAL
    INFORMATIONItem 1.

Financial Statements


3Consolidated balance sheets 
    March 31, 2010 and December 31, 2009


3Consolidated statements of operations 
    Three months ended March 31, 2010 and 2009


4Consolidated statement of shareholders
    equity  Three months ended March 31, 2010


5Consolidated statements of cash flows 
    Three months ended March 31, 2010 and 2009


6Notes to consolidated financial
    statements  March 31, 2010


7Report of independent registered public
    accounting firm


16Item 2.

Managements Discussion and Analysis of
    Financial Condition and Results of Operations


17Item 3.

Quantitative and Qualitative Disclosure About
    Market Risk


20Item 4.

Controls and Procedures


20PART II. OTHER INFORMATIONItem 1.

Legal Proceedings


21Item 1A.

Risk Factors


22Item 6.

Exhibits


22SIGNATURE


23EXHIBIT INDEX


24EX-31.1EX-31.2EX-32   2




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##### Table of Contents



PART I.
    Financial Information  ITEM 1.
    Financial
    Statements  PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  CONSOLIDATED
    BALANCE SHEETS
  (Unaudited)March 31,


December 31,2010


2009(Dollars in thousands)ASSETSCurrent AssetsCash and cash equivalents

$
26,852


$
21,976Accounts receivable, less allowances for doubtful accounts of
    $8,571 at March 31, 2010 and $8,388 at December 31,
    2009


120,048



104,643Inventories


173,290



182,116Deferred tax assets


8,104



8,104Unbilled contract revenue


20,570



19,411Other current assets


3,253



13,783Total Current Assets


352,117



350,033Property, Plant and Equipment


245,549



242,505Less accumulated depreciation


172,482



167,54673,067



74,959Other AssetsGoodwill


3,983



4,155Other


76,509



70,695$
505,676


$
499,842LIABILITIES AND SHAREHOLDERS EQUITYCurrent LiabilitiesTrade accounts payable

$
86,566


$
75,078Accrued expenses


45,215



39,074Current portion of long-term debt


10,748



10,894Current portion of other postretirement benefits


2,197



2,197Total Current Liabilities


144,726



127,243Long-Term Liabilities, less current portion8.375% Senior Subordinated Notes due 2014


183,835



183,835Revolving credit facility


130,400



134,600Other long-term debt


4,563



4,668Deferred tax liability


7,200



7,200Other postretirement benefits and other long-term liabilities


21,272



21,831347,270



352,134Shareholders EquityCommon Stock, par value $1 per share


-0-



-0-Additional paid-in capital


47,850



55,362Retained deficit


(27,224
)


(29,783
)Accumulated other comprehensive (loss)


(6,946
)


(5,114
)13,680



20,465$
505,676


$
499,842   Note:
    The balance sheet at December 31, 2009 has been derived
    from the audited financial statements at that date, but does not
    include all of the information and footnotes required by
    generally accepted accounting principles for complete financial
    statements.   3




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  CONSOLIDATED
    STATEMENTS OF OPERATIONS (UNAUDITED)
  Three Months EndedMarch 31,2010


2009(Amounts in thousands)Net sales

$
191,701


$
181,250Cost of products sold


162,363



157,388Gross profit


29,338



23,862Selling, general and administrative expenses


20,456



21,330Operating income


8,882



2,532Interest expense


5,455



6,201Income (loss) before income taxes


3,427



(3,669
)Income taxes


868



732Net income (loss)

$
2,559


$
(4,401
)    4




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  CONSOLIDATED
    STATEMENT OF SHAREHOLDERS EQUITY (UNAUDITED)
  AccumulatedAdditional





OtherCommon


Paid-In


Retained


ComprehensiveStock


Capital


Deficit


Income (Loss)


Total(Dollars in thousands)Balance at January 1, 2010

$
-0-


$
55,362


$
(29,783
)

$
(5,114
)

$
20,465Comprehensive income:Net income










2,559







2,559Foreign currency translation adjustment














(2,027
)


(2,027
)Pension and post retirement benefit adjustments, net of tax














195



195Comprehensive income


















727Capital contribution from shareholder






(6,762
)










(6,762
)Distribution of capital to shareholder






(750
)










(750
)Balance at March 31, 2010

$
-0-


$
47,850


$
(27,224
)

$
(6,946
)

$
13,680    5




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  CONSOLIDATED
    STATEMENTS OF CASH FLOWS (UNAUDITED)
  Three Months EndedMarch 31,2010


2009(Dollars in thousands)OPERATING ACTIVITIESNet income (loss)

$
2,559


$
(4,401
)Adjustments to reconcile net income (loss) to net cash provided
    (used) by operating activities:Depreciation and amortization


4,168



5,194Changes in operating assets and liabilities:Accounts receivable


(15,405
)


33,042Inventories and other current assets


18,196



6,278Accounts payable and accrued expenses


17,628



(42,852
)Other


(4,922
)


(4,267
)Net Cash Provided (Used) by Operating Activities


22,224



(7,006
)INVESTING ACTIVITIESPurchases of property, plant and equipment, net


(1,580
)


(1,335
)Net Cash Used by Investing Activities


(1,580
)


(1,335
)FINANCING ACTIVITIES(Payments) Proceeds on debt, net


(4,450
)


3,175Distribution of capital to shareholder


(750
)


(750
)Debt issue costs


(3,806
)


-0-Capital contribution from parent


(6,762
)


-0-Net Cash (Used) Provided by Financing Activities


(15,768
)


2,425Increase (Decrease) in Cash and Cash Equivalents


4,876



(5,916
)Cash and Cash Equivalents at Beginning of Period


21,976



17,623Cash and Cash Equivalents at End of Period

$
26,852


$
11,707Taxes paid

$
573


$
1,747Interest paid


1,167



1,541    6




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
  March 31, 2010
 (Dollar amounts in thousands)
  NOTE A 
    Basis of
    Presentation    Form 10-Q Regulation S-X. Form 10-K
  NOTE B 
    Segments  tm tm just-in-time point-of-use
    Three Months EndedMarch 31,2010


2009Net sales:Supply Technologies

$
94,238


$
82,971Aluminum Products


36,588



22,358Manufactured Products


60,875



75,921$
191,701


$
181,250Income (loss) before income taxes:Supply Technologies

$
4,484


$
546Aluminum Products


1,936



(3,662
)Manufactured Products


4,933



7,71211,353



4,596Corporate costs


(2,471
)


(2,064
)Interest expense


(5,455
)


(6,201
)$
3,427


$
(3,669
)   7




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
    (UNAUDITED)  (Continued)
  March 31,


December 31,2010


2009Identifiable assets were as follows:Supply Technologies

$
213,930


$
207,729Aluminum Products


75,368



76,443Manufactured Products


178,698



178,715General corporate


37,680



36,955$
505,676


$
499,842   NOTE C 
    Recent
    Accounting Pronouncements  ASC 810-10,
  NOTE D 
    Inventories    March 31,


December 31,2010


2008Finished goods

$
98,306


$
100,309Work in process


24,315



26,778Raw materials and supplies


50,669



55,029$
173,290


$
182,116   NOTE E 
    Pension
    Plans and Other Postretirement Benefits    Three Months EndedMarch 31,Pension Benefits


Postretirement Benefits2010


2009


2010


2009Service costs

$
81


$
123


$
9


$
24Interest costs


643



694



248



296Expected return on plan assets


(1,984
)


(1,758
)


-0-



-0-Transition obligation


(10
)


(10
)


(24
)


-0-Amortization of prior service cost


15



32



-0-



-0-Recognized net actuarial loss


82



231



107



119Benefit (income) costs

$
(1,173
)

$
(688
)

$
340


$
439  8




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
    (UNAUDITED)  (Continued)
    NOTE F 
    Comprehensive
    Income (Loss)    Three Months EndedMarch 31,2010


2009Net income (loss)

$
2,559


$
(4,401
)Foreign currency translation


(2,027
)


(3,877
)Pension and post retirement benefit adjustments, net of tax


195



371Total comprehensive income (loss)

$
727


$
(7,907
)     March 31,


December 31,2010


2009Foreign currency translation adjustment

$
4,923


$
6,950Pension and postretirement benefit adjustments, net of tax


(11,869
)


(12,064
)$
(6,946
)

$
(5,114
)     NOTE G 
    Accrued
    Warranty Costs    2010


2009Balance at January 1

$
2,760


$
5,402Claims paid during the quarter


(246
)


(660
)Additional warranties issued during the quarter


73



325Balance at March 31

$
2,587


$
5,067   NOTE H 
    Income
    Taxes      NOTE I 
    Fair
    Value Measurements    Level 1
 9




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
    (UNAUDITED)  (Continued)
  Level 2
  Level 3
    NOTE J 
    Financing
    Arrangement      March 31,


December 31,2010


20098.375% senior subordinated notes due 2014

$
183,835


$
183,835Revolving credit


97,000



101,200Term loan A


28,000



28,000Term loan B


12,000



12,000Other


8,711



8,962329,546



333,997Less current maturities


10,748



10,894Total

$
318,798


$
323,103   NOTE K 
    Accounts
    Receivable   10




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
    (UNAUDITED)  (Continued)
  NOTE L 
    Supplemental Guarantor Information
     11




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
    (UNAUDITED)  (Continued)
  PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATING BALANCE SHEET
 March 31, 2010
  Combined


CombinedGuarantor


Non-Guarantor


Reclassifications/Parent


Subsidiaries


Subsidiaries


Eliminations


Consolidated(In thousands)ASSETSCurrent assets:Cash and cash equivalents

$
(1,931
)

$
1,454


$
25,476


$
1,853


$
26,852Accounts receivable, net


(1,300
)


89,493



31,855



-0-



120,048Inventories


-0-



141,482



31,808



-0-



173,290Other current assets


8,562



21,044



9,593



(15,376
)


23,823Deferred tax assets


-0-



-0-



-0-



8,104



8,104Total Current Assets


5,331



253,473



98,732



(5,419
)


352,117Investment in subsidiaries


320,474



26,153



(25,136
)


(321,491
)


-0-Inter-company advances


369,491



297,895



25,057



(692,443
)


-0-Property, Plant and Equipment, net


2,466



71,868



4,778



(6,045
)


73,067Other Assets:Goodwill


-0-



1,346



2,637



-0-



3,983Other


30,226



39,532



15,624



(8,873
)


76,509Total Other Assets


30,226



40,878



18,261



(8,873
)


80,492Total Assets

$
727,988


$
690,267


$
121,692


$
(1,034,271
)

$
505,676LIABILITIES AND SHAREHOLDERS EQUITYCurrent Liabilities:Trade accounts payable

$
2,274


$
65,850


$
14,664


$
3,778


$
86,566Accrued expenses


6,685



25,815



12,666



49



45,215Current portion of long-term liabilities


6,600



265



3,779



2,301



12,945Total Current Liabilities


15,559



91,930



31,109



6,128



144,726Long-Term Liabilities, less current portion8.375% Senior Subordinated Notes due 2014


210,000



-0-



-0-



(26,165
)


183,835Revolving credit maturing on June 30, 2013


130,400



-0-



-0-



-0-



130,400Other long-term debt


-0-



4,049



2



512



4,563Deferred tax liability


6,007



-0-



1,229



(36
)


7,200Other postretirement benefits and other long-term liabilities


2,565



52,209



292



(33,794
)


21,272Total Long-Term Liabilities


348,972



56,258



1,523



(59,483
)


347,270Inter-company advances


369,407



279,794



41,930



(691,131
)


-0-Shareholders Equity


(5,950
)


262,285



47,130



(289,785
)


13,680Total Liabilities and Shareholders Equity

$
727,988


$
690,267


$
121,692


$
(1,034,271
)

$
505,676  12




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
    (UNAUDITED)  (Continued)
  PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATING BALANCE SHEET
 December 31, 2009
  Combined


CombinedGuarantor


Non-Guarantor


Reclassifications/Parent


Subsidiaries


Subsidiaries


Eliminations


Consolidated(In thousands)ASSETSCurrent assets:Cash and cash equivalents

$
(2,876
)

$
1,613


$
21,839


$
1,400


$
21,976Accounts receivable, net


(1,300
)


84,669



24,477



(3,203
)


104,643Inventories


-0-



148,658



33,458



-0-



182,116Other current assets


8,769



18,365



9,878



(3,818
)


33,194Deferred tax assets


-0-



-0-



-0-



8,104



8,104Total Current Assets


4,593



253,305



89,652



2,483



350,033Investment in subsidiaries


313,315



26,129



(26,129
)


(313,315
)


-0-Inter-company advances


383,098



292,128



21,935



(697,161
)


-0-Property, Plant and Equipment, net


(464
)


70,962



10,506



(6,045
)


74,959Other Assets:Goodwill


-0-



1,346



2,809



-0-



4,155Other


25,864



38,660



14,528



(8,357
)


70,695Total Other Assets


25,864



40,006



17,337



(8,357
)


74,850Total Assets

$
726,406


$
682,530


$
113,301


$
(1,022,395
)

$
499,842LIABILITIES AND SHAREHOLDERS EQUITYCurrent Liabilities:Trade accounts payable

$
3,360


$
55,920


$
14,375


$
1,423


$
75,078Accrued expenses


1,581



25,889



11,604



-0-



39,074Current portion of long-term liabilities


6,600



102



2,163



4,226



13,091Total Current Liabilities


11,541



81,911



28,142



5,649



127,243Long-Term Liabilities, less current portion8.375% Senior Subordinated Notes due 2014


210,000



-0-



-0-



(26,165
)


183,835Revolving credit maturing on June 30, 2013


134,600



-0-



-0-



-0-



134,600Other long-term debt


-0-



4,409



1,623



(1,364
)


4,668Deferred tax liability


6,007



-0-



1,193



-0-



7,200Other postretirement benefits and other long-term liabilities


2,710



52,637



314



(33,830
)


21,831Total Long-Term Liabilities


353,317



57,046



3,130



(61,359
)


352,134Inter-company advances


361,789



286,093



37,505



(685,387
)


-0-Shareholders Equity


(241
)


257,480



44,524



(281,298
)


20,465Total Liabilities and Shareholders Equity

$
726,406


$
682,530


$
113,301


$
(1,022,395
)

$
499,842  13




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##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
    (UNAUDITED)  (Continued)
  PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
 CONSOLIDATING STATEMENT OF OPERATIONS
 For the Three Months Ended March 31, 2010
  Combined


CombinedGuarantor


Non-GuarantorParent


Subsidiaries


Subsidiaries


Eliminations


Consolidated(In thousands)Net sales

$
-0-


$
157,944


$
33,757


$
-0-


$
191,701Cost of sales


-0-



136,661



25,702



-0-



162,363Gross profit


-0-



21,283



8,055



-0-



29,338Operating expenses:Selling, general and administrative expenses


(7,914
)


13,529



4,540



10,301



20,456Operating income


7,914



7,754



3,515



(10,301
)


8,882Interest expense


5,566



231



322



(664
)


5,455Income before income taxes


2,348



7,523



3,193



(9,637
)


3,427Income taxes


740



39



89



-0-



868Net income (loss)

$
1,608


$
7,484


$
3,104


$
(9,637
)

$
2,559   PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
 CONSOLIDATING STATEMENT OF OPERATIONS
 For the Three Months Ended March 31, 2009
  Combined


CombinedGuarantor


Non-GuarantorParent


Subsidiaries


Subsidiaries


Eliminations


Consolidated(In thousands)Net sales

$
-0-


$
152,763


$
28,487


$
-0-


$
181,250Cost of sales


-0-



135,774



21,614



-0-



157,388Gross profit


-0-



16,989



6,873



-0-



23,862Operating expenses:Selling, general and administrative expenses


(1,041
)


15,325



4,560



2,486



21,330Operating income


1,041



1,664



2,313



(2,486
)


2,532Interest expense


5,963



214



227



(203
)


6,201Income (loss) before income taxes


(4,922
)


1,450



2,086



(2,283
)


(3,669
)Income taxes


(288
)


24



996



-0-



732Net income (loss)

$
(4,634
)

$
1,426


$
1,090


$
(2,283
)

$
(4,401
)  14




---



##### Table of Contents



PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
  NOTES TO
    CONSOLIDATED FINANCIAL STATEMENTS
    (UNAUDITED)  (Continued)
  PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
 For the Three Months Ended March 31, 2010
  Combined


CombinedGuarantor


Non-GuarantorParent


Subsidiaries


Subsidiaries


Eliminations


Consolidated(In thousands)Net cash provided (used) by operations

$
16,942


$
7,133


$
(1,851
)

$
-0-


$
22,224Cash flows from investing activities:Purchases of property, plant and equipment, net


(26
)


(7,047
)


5,493



-0-



(1,580
)Net cash provided (used) in investing activities


(26
)


(7,047
)


5,493



-0-



(1,580
)Cash flows from financing activities:(Payments) Proceeds on debt


(4,200
)


(245
)


(5
)


-0-



(4,450
)Distribution of capital to shareholder


(750
)


-0-



-0-



-0-



(750
)Capital contributions from parent


(6,762
)


-0-



-0-



-0-



(6,762
)Debt issue costs


(3,806
)


-0-



-0-



-0-



(3,806
)Net cash provided (used) by financing activities


(15,518
)


(245
)


(5
)


-0-



(15,768
)Increase in cash and cash equivalents


1,398



(159
)


3,637



-0-



4,876Cash and cash equivalents at beginning of period


(1,476
)


1,613



21,839



-0-



21,976Cash and cash equivalents at end of period

$
(78
)

$
1,454


$
25,476


$
-0-


$
26,852   PARK-OHIO
    INDUSTRIES, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
 For the Three Months Ended March 31, 2009
  Combined


CombinedGuarantor


Non-GuarantorParent


Subsidiaries


Subsidiaries


Eliminations


Consolidated(In thousands)Net cash provided (used) by operations

$
(7,684
)

$
(3,365
)

$
4,043


$
-0-


$
(7,006
)Cash flows from investing activities:Purchases of property, plant and equipment, net


226



(1,773
)


212



-0-



(1,335
)Net cash provided (used) in investing activities


226



(1,773
)


212



-0-



(1,335
)Cash flows from financing activities:Distribution of capital to shareholder


(750
)


-0-



-0-



-0-



(750
)Proceeds from bank arrangements


9,300



-0-



-0-



-0-



9,300Principal payments on revolving credit and long term debt


-0-



(106
)


(6,019
)


-0-



(6,125
)Net cash provided (used) by financing activities


8,550



(106
)


(6,019
)


-0-



2,425Increase (decrease) in cash and cash equivalents


1,092



(5,244
)


(1,764
)


-0-



(5,916
)Cash and cash equivalents at beginning of period


6,780



339



10,504



-0-



17,623Cash and cash equivalents at end of period

$
7,872


$
(4,905
)

$
8,740


$
-0-


$
11,707  15




---



##### Table of Contents



REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM             
    16




---



##### Table of Contents



Item 2.
    Managements
    Discussion and Analysis of Financial Condition and Results of
    Operations    Executive
    Overview
  tm tm tm just-in-time point-of-use sub-assemblers
      Critical
    Accounting Policies
  Form 10-K. Form 10-Q.
 17




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##### Table of Contents



Results
    of Operations
  Three
    Months 2010 versus Three Months 2009
  Net
    Sales by Segment:
  Three MonthsEndedMarch 31,





Percent2010


2009


Change


ChangeSupply Technologies

$
94.2


$
83.0


$
11.2



13
%Aluminum Products


36.6



22.4



14.2



63
%Manufactured Products


60.9



75.9



(15.0
)


(20
)%Consolidated Net Sales

$
191.7


$
181.3


$
10.4



6
%     Cost
    of Products Sold & Gross Profit:
  Three MonthsEndedMarch 31,





Percent2010


2009


Change


ChangeConsolidated cost of products sold

$
162.4


$
157.4


$
5.0



3
%Consolidated gross profit

$
29.3


$
23.9


$
5.4



23
%Gross margin


15.3
%


13.1
%       Selling,
    General & Administrative (SG&A)
    Expenses:
  Three Months EndedMarch 31,



Percent2010

2009

Change

ChangeConsolidated SG&A expenses

$
20.5


$
21.3


$
(.8
)


(4
)%SG&A percent


10.7
%


11.7
%    18




---



##### Table of Contents



Interest
    Expense:
  Three MonthsEndedMarch 31,



Percent2010

2009

Change

ChangeInterest expense

$
5.5


$
6.2


$(.7)


(11
)%Average outstanding borrowings

$
379.2


$
381.1


$(1.9)


(1
)%Average borrowing rate


5.80
%


6.50
%

(70) basis points     Income
    Tax:
    Seasonality;
    Variability of Operating Results
      Forward-Looking
    Statements
  Form 10-Q
 19




---



##### Table of Contents



Form 10-K
  Review By
    Independent Registered Public Accounting Firm
    Item 3.
    Quantitative
    and Qualitative Disclosure About Market Risk        Item 4.
    Controls
    and Procedures  Rules 13a-15(e)
   20




---



##### Table of Contents



PART II



OTHER
    INFORMATION  Item 1.
    Legal
    Proceedings             21




---



##### Table of Contents



Item 1A.
    Risk
    Factors  Form 10-K
  Item 6.
    Exhibits    4
.1

Third Amended and Restated Credit Agreement, dated March 8,
    2010, among Park-Ohio Industries, Inc., RB&W Corporation of
    Canada, the Ex-Im Borrowers party thereto,the other loan parties
    thereto, the lenders party thereto and JP Morgan Chase Bank,
    N.A., as Administrative Agent, JP Morgan Chase Bank, N.A.
    Toronto Branch, as Canadian Agent, RBS Business Capital, as
    Syndication Agent, KeyBank National Association, as
    Co-Documentation Agent, JP Morgan Securities Inc., as Sole Lead
    Arranger, PNC Bank, National Association, as Joint Bookrunner
    and U.S. Bank National Association, as Co-Documentation Agent
    and Joint Bookrunner (filed as Exhibit 4.1 to
    Form 10-Q
    of Park-Ohio Holdings Corp. on May 10, 2010, SEC File
    No. 000-03134
    and incorporated by reference and made a part hereof)31
.1

Principal Executive Officers Certification Pursuant to
    Section 302 of the Sarbanes-Oxley Act of 200231
.2

Principal Financial Officers Certification Pursuant to
    Section 302 of the Sarbanes-Oxley Act of 200232


Certification requirement under Section 906 of the
    Sarbanes-Oxley Act of 2002  22




---



##### Table of Contents



SIGNATURE        By
    /s/  Jeffrey
    L. Rutherford   Title:
    Vice President and Chief Financial Officer 
   23




---



##### Table of Contents



EXHIBIT INDEXQUARTERLY REPORT ON
    FORM 10-Q
    PARK-OHIO INDUSTRIES, INC. AND SUBSIDIARIES
    FOR THE QUARTER ENDED MARCH 31, 2010 Exhibit4
.1

Third Amended and Restated Credit Agreement, dated March 8,
    2010, among Park-Ohio Industries, Inc., RB&W Corporation of
    Canada, the Ex-Im Borrowers party, thereto, the other loan
    parties thereto, the lenders party thereto and JP Morgan Chase
    Bank, N.A., as Administrative Agent, JP Morgan Chase Bank, N.A.
    Toronto Branch, as Canadian Agent, RBS Business Capital, as
    Syndication Agent, KeyBank National Association, as
    Co-Documentation Agent, JP Morgan Securities Inc., as Sole Lead
    Arranger, PNC Bank, National Association, as Joint Bookrunner
    and U.S. Bank National Association, as Co-Documentation Agent
    and Joint Bookrunner (filed as Exhibit 4.1 to
    Form 10-Q
    of Park-Ohio Holdings Corp. on May 10, 2010, SEC File
    No. 000-03134
    and incorporated by reference and made a part hereof)31
.1

Principal Executive Officers Certification Pursuant to
    Section 302 of the Sarbanes-Oxley Act of 200231
.2

Principal Financial Officers Certification Pursuant to
    Section 302 of the Sarbanes-Oxley Act of 200232


Certification requirement under Section 906 of the
    Sarbanes-Oxley Act of 2002  24