CANTON, Ohio (AP) — Timken Co., which makes engineered bearings and steel products, said Monday it agreed to form a joint venture with Chinese heavy equipment manufacturer Xiangtan Electric Manufacturing Co. Ltd. to produce bearings for wind turbines.
Timken will have an 80 percent stake in the joint venture, the company said.
Timken said a new $38 million bearing manufacturing plant will be built in China's Hunan province. Construction of the new facility is expected to begin in 2008.
