CHICAGO Timken Co. has completed three capital investment projects totaling $85 million at two of its steel production plants in Ohio.
The Canton, Ohio-based steel and bearings maker installed an open-die in-line forge press at its Faircrest plant, while installing an intermediate finishing line and a second induction thermal treatment line at the Gambrinus plant. Both plants are located in Canton.
The 3,300-ton forge press uses a large-bar, forged-rolled process that allows Timken to guarantee center soundness for a larger cross-section of special bar quality (SBQ) products, aerospace and steel group president Richard G. Kyle said in a statement. The addition, along with Timkens recent investment in an ultrasonic test large-bar inspection line, gives the company the ability to produce sound bars up to 16 inches in diameter.
Gambrinus new intermediate finishing line is more efficient than prior processes, advances testing quality, cuts processing times and has an environmentally friendly water jet descaling spray system that replaces the former pickling process, Timken said.
The second induction thermal treatment line adds about 40,000 tons per year of normalized capacity. Used in conjunction with existing thermal treatment assets, it will boost quench-and-temper capacity by 20,000 tons per year, Timken said.
The three projects are part of a planned investment of more than $500 million in Timkens Ohio steel plants, Kyle said.
At Faircrest, construction continues on a second ladle refining station that is set to start later this quarter and a vertical jumbo bloom continuous caster due for start-up in the second half of 2014, the company said.
Timken is embroiled in a proxy fight with investors Relational Investors LLC and the California State Teachers Retirement System (CalSTRS), who are pushing the company to spin off its steel business (amm.com, March 22). The annual shareholders meeting is May 7.