Timken Announces New Capacity to Serve Wind Power Demand
23 Ottobre 2008 - 5:30PM
Business Wire
The Timken Company (NYSE: TKR) today announced plans to expand
production capacity at its Tyger River facility in Union, S.C., to
serve the wind energy market. The investment is part of a strategy
to strengthen Timken�s position to serve growing global demand for
highly engineered large-bore bearings that will help customers
harness wind power to meet the energy needs of the future. Timken
expects demand for large-bore bearings used in main-rotor shafts
and gear drives in wind turbines to grow rapidly in the coming
years as reliance on renewable energy increases. The Tyger River
investment will allow the company to serve demand from North
American customers and provide expanded capability to produce
prototypes in support of new wind-turbine programs. �This
investment exemplifies how we�re reshaping our portfolio to grow
and optimize our business from top to bottom,� said James W.
Griffith, Timken�s president and chief executive officer. �We stand
to achieve greater returns by refocusing existing assets and
investing in new capacity to serve our most promising market
sectors, which certainly includes wind energy.� Expansion work at
Timken�s Tyger River location will begin in 2009, with production
currently slated for 2010. It will be the company�s second
wind-related commitment of the past year, following formation of a
joint venture with China�s XEMC to build a new main-shaft bearing
facility in Xiangtan, Hunan province. Construction of that new
facility is scheduled to begin this year. Timken�s edge in the wind
energy market is performance engineering, combining power
transmission, friction management and alloy steel expertise to
develop and deliver systems offering wind-turbine manufacturers and
wind-farm owners improved durability and reliability in the
turbines. 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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