Timken Invests $14 Million to Increase Steel Capacity
18 Settembre 2008 - 4:18PM
Business Wire
The Timken Company (NYSE: TKR) today announced that it has invested
$14 million in a new thermal treatment facility at its steel plant
in Canton, Ohio. The investment will increase Timken�s capacity to
produce heat-treated steel bars and tubes primarily suited for use
in the energy and industrial market sectors. The new 34,000
square-foot facility will begin operations in December 2008 and is
expected to reach a capacity of 45,000 tons per year by mid-2009.
The primary operation at the new facility will be the quenching and
tempering of steel bars and tubes that range from 4 inches (101
millimeters) to 9 inches (227 millimeters) in diameter and 12 feet
(3.7 meters) to 40 feet (12 meters) in length. This process
prepares steel for use in harsh environments such as those found in
the oil and gas industry. The new facility will also have the
flexibility to produce steel bars and tubes with metallurgical
properties suitable for other market sectors. �This investment is
the latest step forward in Timken�s strategy to drive growth in the
global energy and industrial end markets,� said Bob Keeler, vice
president of sales for Timken Steel. �The added capacity allows us
to better meet strong demand for steel in energy and industrial
market sectors that require precise mechanical properties for the
most demanding steel applications.� In 2007, Timken opened a new
induction heat treat line at its Canton steel plant after investing
$5 million. Timken also announced in January 2007 that it would
invest $60 million in its steel rolling mill operations in Canton.
This investment will increase the company�s capability to produce
differentiated steel products, including steel bars down to 1-inch
diameter (25 millimeters). Production at the small bar mill will
begin later this year. 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 $5.2 billion in 2007, operations in 27
countries and approximately 25,000 employees, Timken is Where You
Turn� for better performance.
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