Ohio Manufacturer Breaks Ground on $225 Million Expansion at Faircrest Steel Plant
04/24/2012
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's specialty alloy steel bars.
Salvatore J. Miraglia, Jr., president of Timken steel, told the company's associates, suppliers, customers and union members "you helped make this investment possible, and we thank you for that."
The largest incentive sparking Timken's expansion was the firm securing a new five-year labor agreement with its employees who are members of its United Steelworkers Local-- 1123.
A new ladle refiner and large-bloom continuous caster are the centerpieces of the steel plant expansion. Targeted for start up in 2014, the new equipment is expected to increase the Faircrest plant's shippable capacity by 25 percent and enable the production of a broader range of large-diameter bars.
"Demand for Timken steel to support the challenging needs of energy and industrial applications continues to grow in this region, throughout the United States, and in the developing economies of the world," said Ward J. "Tim" Timken, Jr. said Chairman of the Board. "This investment is part of the company's ongoing strategy to expand in markets that value the reliability and efficiency of our world-leading products and offer opportunity for sustained long-term growth."
"We're heartened by the support we've received from the Timken team, customers, suppliers and our elected officials in bringing this project to our official launch this morning," said Tom Moline, vice president of steel manufacturing. "That makes this a great day for Timken customers, the company and our local community."
Project Announcements
Ireland-Based Linde Plans Brownsville, Texas, Operations
06/12/2025
Canadian-Based Torvan Medical Plans High Point, North Carolina, Headquarters-Production Operations
06/12/2025
Amazon Web Services Plans Richmond County, North Carolina, Operations
06/12/2025
Rolls-Royce Expands Mankato, Minnesota, Manufacturing Operations
06/12/2025
StandardAero Component Services Expands Sharonville, Ohio, MRO Operations
06/12/2025
Azure Farms Plans South Point, Ohio, Production Operations
06/12/2025
Most Read
-
First Person: Joe Capes, CEO, LiquidStack
Q2 2025
-
The Legal Limits of DEI in Incentives Agreements, Hiring, and Contracting
Q2 2025
-
39th Annual Corporate & 21st Annual Consultants Surveys: What Business Leaders and Consultants Are Saying About Site Selection
Q1 2025
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024
-
Why Cold Storage May Defy the Tariff Crunch
Q2 2025
-
Get Your Mega Site ‘Project Ready’
Q2 2025
-
Navigating the new era of SCIF construction
Q1 2025