Timken to Expand Canton Steel Plant

Resource from: CBCC Likes:2955

Jan 18,2007

The Timken Co. will spend $60 million and partner with a Japanese manufacturer to expand its steel-making facilities in Canton with an aim toward supplying non-U.S.-based automakers such as Toyota, Honda and Nissan. The 76,000-square-foot expansion, which will make small-bar steel at the Harrison Steel Plant, is expected to be completed by mid 2008, Timken said in a release today. Construction is expected to start in June.The expansion will add about 30 new jobs in Canton.The new plant will enable Timken to make differentiated steel products down to one-inch diameter. The steel can be used in such things as power transmission and so-called friction management for rapidly growing automotive transplants such as Honda and Toyota, Timken said in its announcement. Timken's partner will be Japan-based Daido Steel Co. Ltd, which makes small-bar steel for Nissan, Toyota, Honda and others. Timken said it will explore other areas of collaboration with Daido related to the manufacture and supply of steel and steel-related products and services.

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