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.email@example.com
SOURCE The Timken Company