THE TIMKEN COMPANY SELECTS GERMAN SITE FOR $40 MILLION BEARING PLANT
THE TIMKEN COMPANY SELECTS GERMAN SITE
FOR $40 MILLION BEARING PLANT
CANTON, Ohio, Nov. 7 /PRNewswire/ -- The Timken Company (NYSE: TKR), the world's largest manufacturer of tapered roller bearings, announced today that a site in Ueberherrn, in the Federal Republic of Germany, has been selected for its new European bearing plant.
The $40 million plant will open with about 50 employees and is being designed with the flexibility to facilitate future expansions. It is the company's fourth bearing plant to be opened in Europe with other plants located in Colmar, France, as well as Duston and Daventry in the United Kingdom.
"The Ueberherrn plant will broaden our presence in Europe and specifically in Germany," said Joseph F. Toot Jr., president of The Timken Company. "The new products that will be manufactured in Ueberherrn will strengthen our position in the high-value added market segments. Our delivery will be unparalleled."
Maurice Amiel, vice president-bearings-Europe, Africa and West Asia, said, "We decided to locate our newest European facility in Germany because many of the customers who purchase Timken bearings for industrial applications are headquartered there and in the surrounding European countries. We will be able to better serve these customers by having manufacturing capabilities close at hand."
Amiel also cited Germany's excellent educational system as a contributing factor in the company's decision. "It offers a particularly well-prepared and trained work force that can easily adapt to the sophisticated technology that will be incorporated into this new facility," he added.
Ueberherrn, with a population of 11,000, is located in the German state of Saarland, close to the French border. It is only 200 kilometers (145 miles) from The Timken Company's European headquarters in Colmar, Alsace, France. "This proximity and the widely spread bilingual capabilities in Colmar and Ueberherrn are expected to faciliate the start-up of the new plant," explained Jon Elsasser, director-21st century business project and manager of the corporate team that will design and build this new facility.
Saarland's economic development agency has been working closely with Jochen Peiffer, project manager for the company's new European facility. "Ueberherrn has been seeking to diversify its steel and coal mining base and offers skilled, industrially oriented employees who we believe will do well in our manufacturing environment," said Peiffer. He also indicated that the selection process was further streamlined by Saarland's governmental structure, which allows for more direct contact with local officials.
The Ueberherrn plant is one of two that The Timken Company has been planning as part of its 21st century bearing business project. Ground-breaking ceremonies for the other bearing plant will be held in the United States at Asheboro, N.C., this month. Both bearing plants are included in the company's previously announced $1 billion capital expansion program.
The Timken Company is a leading international manufacturer of highly engineered bearings and alloy steels. The company employs nearly 19,000 people worldwide and recorded 1990 sales of more than $1.7 billion.
/CONTACT: Kari Groh (U.S.), 216-471-4324; or Andre van der Merwe (France), 89-73-4507, both of The Timken Company/
(TKR) CO: The Timken Company ST: Ohio IN: MAC SU: KK -- CL023 -- 2350 11/07/91 16:02 EST