* Starts $225 mln expansion at plant in Stark County, Ohio
* Expansion targeted for start up in 2014
* Expansion to increase plant’s capacity by 25 pct
April 23 (Reuters) – Timken Co said it started a
$225 million expansion of its Faircrest Steel Plant in Stark
County, Ohio.
The installation of a new ladle refiner and large-bloom
continuous caster is expected to increase the Faircrest plant’s
shippable capacity by 25 percent, the company said.
It will also enable the production of a broader range of
large-diameter bars by 2014.
Timken, founded in 1899, makes alloy steels, steel
components and products for friction management and power
transmission, and competes with Sweden’s SKF AB,
Germany’s Schaeffler and Japan’s NSK Ltd.
It sells to both original equipment manufacturers and
after-market distributors.
The company’s shares were trading down 2.5 percent at $49.23
on the New York Stock Exchange. They have lost 9.4 percent of
their value in the last one month.
