The Timken Co. said Wednesday that it is investing $60 million in its steel rolling mill operation to increase its capacity to produce differentiated steel products.
Japanese steel products manufacturer Daido Steel Co. Ltd. will help with the technical aspects of the investment. Both companies plan to investigate other areas of collaboration involved with the manufacture and supply of steel and steel-related products and services.
A 76,000 square foot addition and 30 new employees will be added to the Harrison Steel Plant in Canton, Ohio. Construction is expected to be complete in mid-2008.
“We welcome this opportunity to work with Daido,” said Salvatore J. Miraglia, Jr., president of Timken’s Steel Group. “We have already made investments to expand our large-bar capabilities to an industry-leading 15-inch outer diameter. With the new small-bar project, we will be extending our capabilities down to one-inch diameter, giving us an unmatched size range of alloy steel bar products in North America.”
The expansion in the small-bar steel area will allow Timken to better serve customers in the bearing, industrial, energy, distribution and automotive segments.