The Timken Co. is expanding its facilities in India by building a new bearing manufacturing facility in Chennia in the southern state of Tamil Nadu. The plant will produce a range of antifriction bearings for global markets.
Canton, Ohio-based Timken's Indian operations currently include a bearing manufacturing plant in Jamshedpur and a Global Innovation Center in Bangalore that has the capability to design, develop and test new friction management and power transmission technologies.
The new facility will be built in one of India's new Special Economic Zones (SEZs), which provide a range of tax benefits, including duty-free import of equipment and material used in the manufacture of goods destined for sale outside of India.
"The Timken Co. is continuing to invest in industrial products and markets where we have the opportunity to drive profitable growth," said Mike Arnold, president of Timken's Industrial Group. "Our new facility in India represents a significant expansion of our manufacturing presence in this important economy, and we will continue to look for strategic opportunities to build on our growing base in Asia."
The plant, estimated to cost $25 million, will begin production during the fourth quarter of 2007. Timken, which currently employs approximately 1,000 people in India, anticipates adding approximately 300 positions to operate the Chennai plant.
