Timken to Expand Production at Virginia Bearing Plant
11 Gennaio 2006 - 2:30PM
PR Newswire (US)
$10 million investment will add 50 jobs, expand production at
Altavista facility CANTON, Ohio, Jan. 11 /PRNewswire-FirstCall/ --
The Timken Company (NYSE:TKR) today announced plans to invest
approximately $10 million in its bearing plant in Altavista, Va.,
enabling expanded manufacturing of replacement wheel-hub bearing
assemblies for light-duty pickup trucks and sport utility vehicles.
Timken plans to add 50 new jobs and increase the manufacturing
capacity of the Campbell County plant. (Logo:
http://www.newscom.com/cgi-bin/prnh/19991012/TKRLOGO) "The
Altavista facility has been a strong performer for Timken, and we
are adding capacity to capitalize on a significant opportunity for
profitable growth in the automotive aftermarket with this
expansion," said Jack Cameron, Timken's general manager for the
North and South American automotive aftermarket. Timken is a
leading supplier of automotive wheel-hub bearing assemblies to both
original equipment manufacturers and the automotive aftermarket.
Timken's facility in Altavista, which currently has 140,000 square
feet of space and employs approximately 308 people, has grown
steadily in production capacity since its opening in 1991. The
plant produces highly engineered wheel-hub bearing assemblies,
including UNIPAC(TM), for global auto manufacturers and suppliers.
Wheel-hub bearing assemblies typically have multiple rows of
rollers, are pre-adjusted, pre-lubricated and pre-sealed. The
expansion project, which will begin in second quarter of 2006,
stands to benefit from roughly $460,000 in state and local
government incentives. "Access to a strong, well-educated workforce
and excellent infrastructure in a pro-growth business environment
has been integral to our success in Virginia," said John Plazak,
Altavista plant manager. "We look forward to continuing our
relationship with Commonwealth of Virginia, Campbell County and the
Town of Altavista as we build on our strong record at this
facility." 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. 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,
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, or 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/
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