CANTON, Ohio--(BUSINESS WIRE)--Oct. 17, 2007--The Timken Company (NYSE:TKR) today announced the expansion of its industrial bearing services capacity in response to the strong long-term outlook for demand and to extend the company's heavy-industrial customer base. Timken will invest nearly $6 million in this project, which includes the opening of a new service center in Union, S.C., and the expansion of the company's existing industrial bearing services facility in South Bend, Ind.
This investment will enable Timken's Indiana facility to respond more quickly to customer needs. The South Carolina service location, which is currently housed within a Timken bearing manufacturing plant, will relocate to a facility solely dedicated to providing industrial bearing services. The new center will open in mid-year 2008. When it is fully operational in early 2009, the new center will have additional capacity to remanufacture bearing types and brands within the 18- to 51-inch size range.
"This investment supports Timken's global services strategy of providing integrated maintenance services for our customers' power transmission systems," said Joseph W. Wonsettler, global operations manager for industrial services. "This expansion will allow us to increase bearing repair capacity and improve on-time delivery requirements for customers."
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.
In addition to South Carolina and Indiana, Timken operates bearing repair centers in India, Brazil, South Africa, China, Romania and France. For additional information about Timken's industrial bearing services, visitwww.timken.com/products/repair.
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 $5.0 billion in 2006, operations in 26 countries and approximately 25,000 employees, Timken is Where You Turn(TM) for better performance.
CONTACT: The Timken Company
Media Contact:
Jeff Dafler, 330-471-3514
Manager - Global Media &
Government Relations
Facsimile: 330-471-4118
jeff.dafler@timken.com
or
Investor Contact:
Steve Tschiegg, 330-471-7446
Manager - Investor Relations
Facsimile: 330-471-2797
steve.tschiegg@timken.com
or
For Additional Information:
www.timken.com/media
www.timken.com/investors
SOURCE: The Timken Company