Timken to Launch Aerospace Manufacturing in China
08 Novembre 2006 - 3:00PM
PR Newswire (US)
Investment Lifts the Company's China Presence to Six Plants
CHENGDU, China, Nov. 8 /PRNewswire/ -- The Timken Company
(NYSE:TKR) today announced an important investment in its ability
to serve the Chinese and global aerospace markets. Timken's new
aerospace precision products center, the first investment of its
kind by an international company, will initially employ
approximately 200 people in aerospace products manufacturing.
Across time, it is expected to include sales, engineering support
and customer service capabilities for a range of aerospace bearings
and other precision products. Located in the High Technology
Development Zone in Chengdu, the capital city of Sichuan province,
the new center aligns with China's goal of investing in West China
and focusing on key strategic industries for the country. Timken
selected Chengdu as the location for its sixth plant in China in
part because it is a major Chinese aerospace center with a good
technical infrastructure and educated workforce. "This investment
is directly tied to Timken's strategic initiatives to expand our
presence in industrial markets in Asia, as well as to build an
increasingly diverse portfolio of aerospace precision components
and services worldwide," said Michael C. Arnold, president of
Timken's Industrial Group. "Timken is proud of its progress in
China. The addition of new capabilities and technology to this
booming market will help us to serve the aerospace industry in
China and around the world." Initially, more than 200 associates
will manufacture ball and cylindrical roller bearings up to 12
inches (30 centimeters) in diameter. The first product shipment
from Chengdu is anticipated for late 2007. "The city of Chengdu is
proud to welcome Timken as a new partner in our community and in
the rapidly growing Chinese aerospace industry," said Ge Honglin,
mayor of Chengdu. "Timken's confidence in our workforce and history
of good corporate citizenship, since their arrival in China in
1992, are the ingredients of a strong future relationship with our
city." Timken's social activities in China have included sponsoring
cultural exchange with an exhibit at the Beijing World Art Museum,
the Special Olympics, which will hold their world games in China in
2007, and ongoing support to the educational charity, Junior
Achievement. Since its entry into China in 1992, The Timken Company
has brought its state-of-the-art products and technology as well as
innovation to international and local customers. With China
headquarters in Shanghai, Timken has an established network of
seven sales offices in Shanghai, Beijing, Shenyang, Wuxi, Chengdu,
Hong Kong and Taipei. The company has invested in five large-scale
manufacturing sites in Wuxi (3), Yantai, and Suzhou, a logistics
center and an engineering training center to better serve its
Chinese customers. "This new location in the capital city of
Sichuan province builds on our existing 3,500 employees nationwide,
and demonstrates our commitment to help our customers here in China
to improve their performance by applying Timken's friction
management and power transmission knowledge," said James Gresh,
president of Timken in China. Timken has made significant
investments over the past year to expand the range of aerospace
components and services it provides to original equipment
manufacturers and to the aerospace aftermarket. The company today
offers a comprehensive line of products and services, known for
consistent performance in critical applications and backed by one
of the most stringent quality standards in the world. Timken
produces aerospace products that are found in aircraft engines,
gearboxes, helicopter transmissions, auxiliary power units, landing
wheels, airframes and instrumentation. About The Timken Company The
Timken Company (NYSE:TKRNYSE: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 $5.2 billion
in 2005 and 27,000 employees, Timken is Where You Turn(TM) for
better performance. CONTACT: Jeff Dafler, Manager -- Global Media
& Government Relations, phone: +1-330-471-3514, fax:
+1-330-471-4118, , or Investor Contact: Steve Tschiegg, Manager --
Investor Relations, phone: +1-330-471-7446, fax: +1-330-471-2797, ,
both of The Timken Company. DATASOURCE: The Timken Company CONTACT:
Jeff Dafler, Manager -- Global Media & Government Relations,
+1-330-471-3514, or fax, +1-330-471-4118, 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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