Timken Launches Production in China
Resource from: CBCC Likes:2919
Jun 19,2008
The Timken Company (USA) announced production has begun at its aerospace and precision bearing manufacturing facility in Chengdu, China.
Announced in late 2006, Chengdu is Timken's third bearing plant in China, joining others in Wuxi and Yantai.
Budgeted at approximately USD $15 million and initially employing 200 people, Chengdu production will begin with ball and cylindrical roller bearings, up to 12 inches OD.
Furthering its presence in China, Timken is scheduled to begin construction of a new joint-venture facility in Xiangtan. It will manufacture ultra-large-bore precision output shaft bearings for China's state-mandated and fast-growing wind power sector.
With the inauguration of Chengdu and the parallel launch of early production in Chennai, India, Timken now operates seven manufacturing facilities across Asia.
Although Chengdu was originally scheduled be online by late 2007, there were setbacks along the way, causing production kickoff to slip by several months.
Eventually, Timken said the plant will lead to related additional operations, including sales, engineering support, and customer service.
By producing aircraft and aerospace bearings in China, rather than the U.S., Timken is hoping to expand its share of the Asian market, where aircraft and aerospace sales are growing at up to 30% per year. The move also targets one of the most profitable specialty bearing sectors.
Leong Fang, head of Timken's operations in China, said: "Our investment in Chengdu is not just in a plant, it's also in people. We have recruited local engineers and will continue to train and develop a highly skilled workforce in China."
Jim Griffith, Timken President and CEO, said: "The opening of our plants in Chennai and Chengdu is not only important to our ability to serve customers in Asia, it represents a major step forward in our strategy of driving growth in global industrial markets. We will continue to make investments, both organic and inorganic, to take advantage of strong global demand in our targeted industrial growth markets."
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