Timken-XEMC Bearing JV Opens Monday

Resource from: CBCC Likes:2945

Oct 19,2010

(BEIJING, Oct 18, 2010 Xinhua) Leading US bearing producer Timken Company (NYSE: TKR | PowerRating) announced Monday the opening of its bearing joint venture with Xiangtan Electric Manufacturing Co. (XEMC). The new plant, located in Xiangtan city of Central China's Hunan province, manufactures specialized ultra large bore bearings as part of Timken's strategic investment to serve China's growing demand for renewable energy sources and wind turbines in particular. Following the groundbreaking for the plant in October 2008, construction began in January 2009, and the first batch of bearings came off the production line in early May 2010. The first batch of products is customized main shaft bearings designed to provide a new level of reliability in XEMC's multi-megawatt direct-drive turbine. The environmentally friendly design and operation of this new facility is expected to save nearly 1 million tons of standard coal and 300 million cubic meters of water per year. The Ohio-based Timken recorded sales of 3.1 billion US dollars in 2009, with operations in 27 countries and territories and approximately 17,000 employees.

(CBCC)

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