Timken Company to Invest $27 Million in North Carolina Bearing Plant
04 Novembre 2005 - 4:41PM
PR Newswire (US)
Company plans to add 50 jobs, expand capacity at Asheboro Plant in
Randleman, N.C. CANTON, Ohio, Nov. 4 /PRNewswire-FirstCall/ -- The
Timken Company today announced plans to invest approximately $27
million in its Asheboro bearing plant in Randleman, N.C., enabling
expanded manufacturing of tapered roller bearings, principally for
industrial applications. Timken plans to add 50 new jobs and
increase the size of the Asheboro-area plant by over 35 percent as
part of the project. http://www.timken.com/media/kits/asheboro.asp
(Logo: http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO) "This
is among our most technologically advanced facilities, and we look
forward to using the additional capacity to increase the value we
are able to deliver to our customers," said Michael C. Arnold,
president - Industrial Group. Timken's facility near Asheboro,
which opened in 1994, currently has 150,000 square feet of space
and employs approximately 230 people. The plant produces highly
engineered tapered roller bearings used in high-value industrial
applications, with an emphasis on versatility and substantially
shortened product development and manufacturing cycle time. The
expansion project, which will begin in early 2006 and is
anticipated to take approximately 18 months to complete, will
benefit from approximately $1.4 million in state and local
government incentives. "We are proud to continue our partnership
with the state of North Carolina, Randolph County Economic
Development Corporation, Randolph County and the City of Randleman
as we open the next chapter in the history of Timken's
state-of-the-art bearing manufacturing facility in Randleman," said
Arnold. Timken also has manufacturing facilities in Columbus,
Lincolnton and Rutherfordton, N.C. About The Timken Company The
Timken Company, (NYSE:TKR) (http://www.timken.com/) keeps the world
turning, with innovative ways to make customers' products run
smoother, faster and more efficiently. Timken's highly engineered
bearings, alloy steels and related products and services turn up
everywhere -- on land, at sea and in space. With operations in 27
countries, sales of $4.5 billion in 2004 and 26,000 employees,
Timken is Where You Turn(TM) for better performance. Media Contact:
Jeff Dafler, Manager - Global Media & Government Relations,
Telephone: (330) 471-3514, Facsimile: (330) 471-7032, Investor
Contact: Steve Tschiegg, Manager - Investor Relations, Telephone:
(330) 471-7446, Facsimile: (330) 471-2797, For Additional
Information: www.timken.com/media www.timken.com/investors
http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO
http://photoarchive.ap.org/ DATASOURCE: The Timken Company CONTACT:
Media, Jeff Dafler, Manager - Global Media & Government
Relations, +1-330-471-3514, fax, +1-330-471-7032, or , or
Investors, Steve Tschiegg, Manager - Investor Relations,
+1-330-471-7446, or fax, +1-330-471-2797, or , both of The Timken
Company Web site: http://www.timken.com/
http://www.timken.com/media http://www.timken.com/investors
http://www.timken.com/media/kits/asheboro.asp
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