Customers benefit from savings and shorter delivery times
CANTON, Ohio — May 5, 2008 — As the development of new industrial nations in Asia places greater demands on equipment and energy producers around the world, The Timken Company (NYSE: TKR) is increasing its capacity to provide industrial bearing repair services to customers and keep equipment in operation.
Timken recently invested $6 million in the expansion of its industrial bearing services capacity. The investment includes construction of a new service center in Union, S.C., which is anticipated to open at the end of 2008, and the expansion of the company's existing industrial bearing services facility in South Bend, Ind. The investment came in response to the strong long-term outlook for demand and to extend the company's heavy-industrial customer base.
Timken’s revenue from reconditioning services in China more than doubled in 2007 compared to 2006, when the program was introduced to the region. To increase capacity for the demand in China, Timken moved its industrial service center in China into its new plant in Wuxi, China.
Developed to provide a cost-effective alternative to new bearings, Timken’s bearing repair services have helped customers in many markets increase bearing life by up to three times and save up to 60 percent off the cost of buying new.
“Bearing repair as an alternative to replacement often reduces the total cost of ownership and helps our customers increase their profitability," said Jay Alexander, manager of industrial bearing services at Timken. "In addition, our services conserve resources and energy by reusing original bearing components. These advantages strengthen Timken's position as a complete solutions provider and not just a bearing supplier."
The process of bearing repair involves disassembling, cleaning, inspecting and repairing or remanufacturing bearings to a like-new condition. Through its industrial services, Timken provides customers with an integrated maintenance program that covers the total lifecycle of bearings. Services include mill maintenance-management programs, bearing remanufacturing, chock-bearing maintenance, and roll and chock repair.
“We employ our unique knowledge of bearings and steel to provide some of the best refurbishing options available, regardless of brand, type or size of the bearing," said Alexander.
In addition to its bearing services facilities in the United States, Timken operates bearing repair centers in Brazil, China, France, India, Romania and South Africa. For additional information about Timken’s industrial bearing services, visit www.timken.com/products/remanufacture or stop by Timken’s booth number 5901 at the Offshore Technology Conference May 5-9, 2008.
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.
Source: The Timken Company
Media Contact: Jeff Dafler
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jeff.dafler@timken.com
Media Contact: Elaine Laps
Senior Communications Consultant – Media Relations
Mail Code: GNW-37
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Telephone: (330) 471-5806
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For Additional Information:
www.timken.com