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Timken to Supply Bearing Reconditioning Services for Baosteel
07/30/2008 - Baosteel contracts Timken to supply industrial bearing services following an initial contract to repair and recondition bearings on a cold rolling temper mill.
The Timken Co. has been contracted by Baosteel, China’s largest iron and steel manufacturer, to supply industrial bearing services.
Baosteel first commissioned Timken to repair and recondition bearings on a cold rolling temper mill. After receiving like-new bearings coupled with savings of approximately 50% compared to the cost of new bearings, Baosteel placed additional orders for Timken’s reconditioning services for a total cost of $600,000.
Through its industrial bearing services, Timken provides customers with an integrated maintenance program that covers the total lifecycle of bearings. Services include mill maintenance management programs, bearing remanufacturing, chock bearing maintenance and roll and chock repair.
Timken invested nearly $6 million in the fourth quarter of 2007 to expand its industrial bearing services capacity. The company made the investment in response to the strong long-term outlook for demand. The investment also helped the company to expand its heavy-industrial customer base.
In China, Timken’s revenue from reconditioning services more than doubled in 2007 compared to 2006, when the program was introduced to the region.
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. In addition to its bearing services facilities in the United States, Timken operates bearing repair centers in Brazil, China, France, India, Romania, and South Africa.
