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Timken to Invest $50 Million in Ohio Steel Plants
08/13/2010 - Timken announces plans to invest approximately $50 million for the installation of a new intermediate finishing line at its Gambrinus Steel Plant and expansion of the steel lay-down yard at the small-bar mill at its Harrison Steel Plant.
The Timken Company announced plans to invest approximately $50 million in its steel operations in Canton, Ohio. Upgrades will include the installation of a new intermediate finishing line at the Gambrinus Steel Plant and expansion of the steel lay-down yard at the Harrison Steel Plant's small-bar mill.
"The investments have the goal of both meeting demand and continuing to improve the long-term competitiveness of our operations," said Sal Miraglia, Timken’s President—Steel.
The company said the new intermediate finishing line at the Gambrinus Steel Plant, will more efficiently handle both bar and tube products, and will ultimately replace existing batch-type finishing processes at the plant when it is fully operational in 2013. The new line incorporates the latest technologies and employs lean processes, and will be built in a combination of unused and repurposed buildings on the Gambrinus site.
"The more automated, continuous line will streamline our operations, improving manufacturing effectiveness as well as providing future marketplace opportunities," said Miraglia. "Safety and productivity will also improve, by minimizing unnecessary handling."
At the company’s Harrison facility, the small bar mill continues to increase its output in response to demand, which has created a need for additional space for both finished and semifinished steel in the laydown yard outside the mill. The newly announced project comprises the work necessary to expand the laydown yard, including the demolition of several adjacent, unused buildings. This project is scheduled to be completed by year-end.
Timken’s newly announced projects follow the company’s ongoing commitment to investing in its steel operations. Over the past four years, the company has invested $200 million into its steel operations to strengthen its competitive position, and ultimately support long-term growth and jobs. Those investments have included two new heat-treat lines and a scrap logistics system added between 2006 and 2007, a long-length tube line added in 2008, and a new small bar mill, which was commissioned at the Harrison facility in 2008.
Timken provides innovative friction management and power transmission products and services, enabling its customers' machinery to perform more efficiently and reliably. With operations in 27 countries/territories and approximately 17,000 employees, Timken reported sales of $3.1 billion in 2009.
Timken's Steel Group produces clean, high-quality steels for the most demanding applications. The majority of steel manufactured by Timken is custom melted to the customer's chemistry and manufacturing specifications in solid round or square bars, seamless tubes or semi-finished parts.
