BANGALORE, India, Dec. 24, 2010 /PRNewswire/ -- Timken India Limited, a subsidiary of The Timken Company (NYSE: TKR) today announced that it will invest the amount of Rs. 360 Million, equivalent to approximately US$8 million, to expand tapered roller bearing manufacturing capacity in India. Timken India Limited will be installing machines for this expansion at Chennai.
The project, scheduled to commence production in the second quarter of 2011, will enable a capacity increase of 2.4 million races of up to-8–inch tapered roller bearings. This size is used in construction and other off-highway vehicles as well as heavy trucks and other commercial transportation systems. The expansion is scheduled for completion in Q4 of 2011.
"We are witnessing a steep increase in demand for Timken® tapered roller bearings in and outside India," said Ajay Das, managing director of Timken's operations in India. "A fast growing economy, like India, warrants an even faster development of infrastructure and our products are targeted to meet this distinct upward trend in consumption. To match up with the increasing demand, we will be continuously looking to ramp up capacity," added Ajay Das.
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 its customers' machinery to perform more efficiently and reliably. With sales of $3.1 billion in 2009, operations in 26 countries/territories and approximately 17,000 employees, Timken is Where You Turn® for better performance.
Media Contact: Lorrie Paul Crum, Manager – Global Media and Strategic Communications, Telephone: (330) 471-3514, Mobile: (330) 224-5021, firstname.lastname@example.org, or Investor Contact: Steve Tschiegg, Director – Capital Markets and Investor Relations, Telephone: (330) 471-7446, email@example.com
SOURCE The Timken Company