Timken Breaks Ground on $225 Million Expansion At Its Faircrest Steel Plant in Ohio
Officials of The Timken Company (NYSE: TKR) were joined today by Ohio Gov. John Kasich, Sen. Rob Portman, Rep. Jim Renacci, Rep. Bob Gibbs, state Rep. William Batchelder and other state and local political leaders to mark the start of work on a $225 million expansion of the Faircrest Steel Plant in Stark County, Ohio.
The investment by the specialty alloy steel and industrial components manufacturer is expected to improve the Faircrest plant's productivity, expand its product range and increase capacity to serve growing demand for Timken® specialty alloy steel bars.
Salvatore J. Miraglia, Jr., president of Timken steel, acknowledged the company's associates, suppliers, customers and union membership, many of whom were on hand for the occasion, recognizing the critical roles that they played in moving the project forward. "You helped make this investment possible, and we thank you for that."
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