Timken Signs New Contracts With Steelmaker in India
05 Luglio 2007 - 2:30PM
Business Wire
The Timken Company (NYSE:TKR) will supply JSW Steel Ltd. of India
with bearings for its new cold-rolling steel mill as well as
provide its MILLTEC� rolling mill maintenance services after
construction is completed. The two new contracts for bearings and
services are valued at approximately $1.2 million. JSW is adding
the steel mill as part of its plans to increase annual production
from a current 3.8 million tons to 30 million tons by 2010. "JSW
Steel has become an important Indian manufacturer and a valued
customer for Timken as we continue to grow our business along with
India's dynamic market," said David White, Timken's director of
sales and marketing in India. "Timken customers around the world
have long valued the engineering expertise and technical know-how
that goes into our products. Now we are using that same expertise
to provide complete solutions like our MILLTEC rolling mill
maintenance services. Offering such services is one way we add
value for our customers here in India and around the world.� Timken
first began working with JSW Steel in 2000 as a bearing supplier
for its hot-strip mill at the Vijaynagar complex. In 2004, Timken
began offering its customized MILLTEC services, which included
responsibility for managing the roll-shop operation. Timken
associates work on-site, applying the company's knowledge of
friction management to increase operating efficiency. When MILLTEC
services first began at JSW, the hot-strip mill was experiencing
significant bearing failures. The Timken team quickly worked with
JSW on those problems to help improve productivity. "Timken proved
the value of its MILLTEC team, which identified the problem,
suggested solutions and implemented a plan of corrective action,"
White said. "Our success to date shows that Timken is a key
supplier that JSW can look to for all future projects." About JSW
Steel Ltd. JSW Steel Ltd. is part of the O. P. Jindal Group, a $4
billion conglomerate that has diversified interests in mining,
carbon steel, power, industrial gases and port facilities. JSW
Steel Ltd. is engaged primarily in manufacture of flat products
such as hot-rolled coils, and galvanized products. It has the
largest galvanizing production capacity in India and is the largest
exporter of galvanized products with a presence in over 74
countries across five continents. About The Timken Company The
Timken Company (NYSE: TKR, http://www.timken.com) keeps the world
turning, with innovative friction management and power transmission
products and services, enabling our customers to perform faster and
more efficiently. With sales of $5.0 billion in 2006, operations in
26 countries and approximately 25,000 employees, Timken is Where
You Turn� for better performance.
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