NORTH CANTON, Ohio,
Nov. 19, 2015 /PRNewswire/
-- The Timken Company (NYSE: TKR; www.timken.com), the world
leader in tapered roller bearings, today announced that it will
construct a new bearing plant near Ploiesti, Romania. The facility, which will be the
company's second in Romania, will
serve global demand for the company's highly engineered
Timken® tapered roller bearings in sizes up to
300 mm in diameter. Groundbreaking on the 15,000-square-meter
site is expected in the first quarter of 2016, with start-up slated
for early 2017. Initially, the facility will be operated by
120 associates.
"The new facility strengthens our footprint in Europe and further equips us to meet customer
needs with our market-leading quality and service levels," said
Christopher A. Coughlin, executive vice president and
group president for Timken. "This investment further advances the
company's strategic growth plan DeltaX, which includes geographic
expansion, competitive manufacturing and accelerating product
development-to-commercialization activities, allowing Timken to
more efficiently meet local and global customer needs."
"Since 1997, when we began manufacturing bearings in
Romania, we've engaged a strong
pool of talent and enjoyed a positive business environment," added
Andreas Roellgen, vice president for the company's process
industries business segment and managing director for Europe. "We'll continue to leverage the
proximity to our existing plant in Ploesti, relying on its
infrastructure and our well-established talent pipeline to expand
our capabilities."
Timken bearings are used across countless industrial sectors in
a wide variety of applications wherever wheels and shafts move and
turn. The Timken tapered roller bearings to be made at this new
facility are critical mechanical components found, for example, in
industrial geardrives and off-highway applications that include
construction and agricultural equipment, haul trucks and cranes.
The plant will directly serve original equipment manufacturers in a
wide range of industrial segments as well as reach end users
through the company's global network of industrial
distributors.
Timken operates 63 manufacturing plants and service centers
around the world, including eight European facilities located in
Italy, France, Poland, Romania and the United Kingdom.
About The Timken Company
The Timken Company
(NYSE: TKR; www.timken.com) engineers, manufactures and markets
bearings, transmissions, gearboxes, belts, chain and related
products, and offers a spectrum of powertrain rebuild and repair
services. The leading authority on tapered roller bearings, Timken
today applies its deep knowledge of metallurgy, tribology and
mechanical power transmission across a variety of bearings and
related systems to improve reliability and efficiency of machinery
and equipment all around the world. The company's growing product
and services portfolio features many strong industrial brands
including Timken®, Fafnir®, Philadelphia
Gear®, Carlisle®, Drives® and
Interlube™. Known for its quality products
and collaborative technical sales model, Timken posted $3.1 billion in sales in 2014. With 14,000
employees operating from 28 countries, Timken makes the world more
productive and keeps industry in motion.
Media Contact:
Clark
Harvey
Manager – Communications
Telephone: 234.262.3514
Mediarelations@timken.com
Investor Relations:
Shelly
Chadwick
Vice President – Treasury & Investor
Relations
Telephone: 234.262.3223
Shelly.chadwick@timken.com
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SOURCE The Timken Company