CANTON, Ohio, July 28 /PRNewswire-FirstCall/ -- The Timken
Company (NYSE: TKR) has received a contract worth US$26 million to supply wind turbine products and
services to China's Xinjiang
Goldwind Science & Technology Company, one of the
world's top five wind power equipment manufacturers.
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In 2009, Goldwind received new wind power capacity orders for
about 2,722 megawatts, accounting for approximately 19.7 percent of
the wind generation added in China
last year. Goldwind's contract with Timken will support more than
1,500 megawatts of new wind power capacity, with a broad scope that
reflects Timken's long-term commitment to develop wind energy
technology. It will contribute meaningfully to the company's
expansion in the industry, with Timken providing engineering
support, advanced bearings that include the new Timken®
UltraWind tapered roller bearings and condition-monitoring systems
and services for Goldwind's current 1.5-megawatt and 2.5-megawatt
platforms. The companies also will collaborate on future
wind-turbine developments.
The agreement reinforces Timken's position as a leader in the
sector, providing a customer-focused breadth of bearings and
gearbox systems for multi-megawatt wind turbines. The company's
product offering also includes a full complement of seals,
lubrication and online condition monitoring and support services
for the life of the equipment.
"The collaboration between our companies brings together two
leaders developing advanced technologies for efficient, green power
generation," said Leong Fang,
president of Timken China. "Combining Timken's century of
experience with Goldwind's leading innovation in large-scale wind
turbines, we are prepared to serve China's needs for renewable energy, and to
promote global development as well."
Christopher Coughlin, president
of Timken Process Industries, added, "The opportunity to support
Goldwind's leadership on these platforms plays to Timken's
strength: engineering sustainable systems for large turbines, from
a range of proprietary materials to a breadth of power transmission
products and services for the extended life of the equipment."
Coughlin noted the companies have agreed to collaborate further
on development programs, including using Timken's advanced
engineering design to reduce cycle times for new platforms and
incorporating the company's "life cycle" service approach to
contribute to sustainable performance and uptime of Goldwind's
projects around the world. "We've established wind power
manufacturing and service capabilities on three continents, which
is important as Goldwind looks to grow globally," he said.
Wu Gang, Chairman and CEO of
Goldwind said, "Goldwind maintains its momentum as a leader in the
global wind turbine industry, and we are delighted to partner with
companies like Timken, which earned this opportunity on its
performance during our test period last year. We look forward to
working with Timken to expand the rapid development of the wind
energy industry in China and
abroad."
Timken supplies a broad range of wind-power solutions for the
global market including: engineering design, development and
testing support; high quality alloy steels; gearbox components and
systems; tapered, cylindrical, and spherical roller bearings; seals
and lubrication products; online condition-monitoring; and global
field services and technical support.
The company recently began producing ultra-large bore bearings
for wind turbines in Xiangtan, Hunan
Province, and retooled and expanded its U.S. facilities in
Asheboro, N.C. and Tyger River,
S.C. to serve customers in the industry. This is in addition to
Timken's existing wind-bearing production in Wuxi, China; Chennai,
India; and Ploiesti, Romania. The company also provides clean
Timken® steel from its facilities in Canton, Ohio, for its own production and for
various wind-energy components for other customers.
More information about the company's wind energy capabilities is
available at:
http://www.timken.com/en-us/about/NewsRoom/MediaKits/Pages/MediaKits.aspx.
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 its customers'
machinery to perform more efficiently and reliably. With sales of
$3.1 billion in 2009, operations in
27 countries/territories and approximately 17,000 employees, Timken
is Where You Turn® for better performance.
Media Contact: Lorrie Paul Crum,
Manager – Global Media and Strategic Communications, Telephone:
(330) 471-3514, Mobile: (330) 224-5021, lorrie.crum@timken.com
Investor Contact: Steve Tschiegg,
Director – Capital Markets and Investor Relations, Telephone: (330)
471-7446, steve.tschiegg@timken.com
SOURCE The Timken Company