Timken Co. Plans to Invest $60M in Steel Rolling Mill

Sat March 17, 2007 - Midwest Edition

CANTON, Ohio (AP) The Timken Co. said it plans to spend approximately $60 million to expand production at its steel rolling mill, an investment that could create approximately 30 new jobs by next year.

Construction should begin in June and end in mid-2008 on a 76,000-sq.-ft. (7,060 sq m) addition to the company’s Harrison Steel Plant in its headquarters’ city, Timken announced Jan. 17.

Timken, a maker of engineered bearings and alloy and specialty steel products, wants to broaden its product line to include steel bars down to 1-in. (2.54 cm) in diameter that could be used by industrial and automotive businesses, spokesman Jeff Dafler.

Daido Steel Co., a Japanese company that manufactures small-bar steel used by Nissan Motor Co., Honda Motor Co. and Toyota Motor Corp., will provide technical assistance in the project, Timken said.

Timken has 27,000 employees and operations in 27 countries.