CANTON, Ohio — April 18, 2008 — The Timken Company (NYSE: TKR) today announced the opening of its new aerospace and precision products facility in Chengdu, China, adding to its ability to serve aerospace markets.
The Precision Products Center features world-class production with the same global standards and systems as Timken’s other aerospace plants.
Initially, 120 associates will manufacture small and medium-size ball and cylindrical roller bearings at the Chengdu plant. The 7,500-square-meter (77,500-square-foot) facility will have full capabilities that include finished ring manufacture and complete bearing assembly for key aerospace applications, as well as special technologies such as an aerospace quality clean room.
Coupling this new facility with its more than 80 years experience in providing specialized products to the aerospace industry will enable Timken to strengthen its customer service and aerospace leadership.
“The opening of our plant in 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,” said James W. Griffith, Timken president and chief executive officer. “We will continue to make investments, both organic and inorganic, to take advantage of strong global demand in our targeted industrial growth markets.”
As the needs of China’s aerospace industry develop, Timken intends to add capabilities to the facility, such as the potential for other complex precision products.
“The ultimate product mix at our new facility depends on the market,” said Ron Menning, president aerospace and defense. “As this market continues its rapid growth, we’ll be able to set the standard by providing key products, technology and application support. Our goal is to achieve a leadership position by providing unequalled customer value.”
Timken has made significant investments over the last several years to expand the range of products and services it provides to original equipment manufacturers and the aerospace aftermarket. With its extended capabilities, Timken offers comprehensive life cycle solutions for a growing range of aerospace power transmission systems, including bearings, gears, transmissions and engine replacement parts. The company also provides services such as reconditioning bearings and overhauling of complete turbine engines. Timken aerospace products are found in aircraft engines, gearboxes, helicopter transmissions, auxiliary power units, landing wheels, airframes and instrumentation. For more information about Timken’s products and services for the aerospace and defense markets, visit www.timken.com/aerospace.
Timken, which established a presence in China in 1992, also has plants in Wuxi and Yantai and will soon begin construction of a new joint-venture facility in Xiangtan to manufacture ultra-large-bore bearings for China’s wind energy market.
Timken employs more than 4,500 people in Asia and has operations in six Asian countries. The company had revenue of more than $400 million in the region in 2007.
About The Timken Company
The Timken Company (NYSE: TKR, www.timken.com) keeps the world turning, with innovative friction management and power transmission products and services, enabling our customers to perform faster and more efficiently. With sales of $5.2 billion in 2007, operations in 27 countries and approximately 25,000 employees, Timken is Where You Turn™ for better performance.