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Timken Invests $14 Million in Thermal Treatment Facility
09/19/2008 - Timken invests $14 million in a new thermal treatment facility for the production of heat-treated steel bars and tubes at its steel plant in Canton, Ohio.
The Timken Co. announced that it has invested $14 million in a new thermal treatment facility at its steel plant in Canton, Ohio.
Timken will use the new thermal treatment facility to quench and temper steel bars and tubes ranging from 4 to 9 inches (101 to 227 millimeters) in diameter and 12 to 40 feet (3.7 to 12 meters) in length.
The new facility will boost Timken’s capacity to produce heat-treated steel bars and tubes primarily suited for use in the energy and industrial market sectors. While the quenched and tempered products from the new facility will be particularly suitable for the harsh conditions of 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.”
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.
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 a 1-inch (25-millimeter) diameter. Production at the small bar mill will begin later this year.
Timken provides innovative friction management and power transmission products and services. Its approximately 25,000 employees generated sales of $5.2 billion in 2007 from its operations in 27 countries.
