NEW YORK TimkenSteel Corp. plans to open a $40-million continuous heat-treat facility in the U.S. to produce more value-added steel for demanding applications, the alloy steel producer said July 17.
The Canton, Ohio-based company is evaluating locations for the continuous thermal heat-treat operations, with a decision expected in the third quarter. The facility would be fully operational within two years and would feature annual capacity of 50,000 process-tons of 4-inch to 13-inch bars and tubes, making it larger than each of the companys three existing thermal treatment facilities in Canton, TimkenSteel said.
Many of TimkenSteels end-market applications require higher performance steels, and the companys investment in the new facility is foundational to our ability to grow some of our most unique and sophisticated product lines to meet those needs, Shawn J. Seanor, TimkenSteels executive vice president of energy and distribution, said in a statement.
Additional continuous heat-treat capabilities provide the flexibility to create more customized steels to serve energy and other markets that have a strong long-term outlook, Seanor added.
In June, Timken Co. completed its spinoff of TimkenSteel, which now trades as an independent public company on the New York Stock Exchange (amm.com, July 1). TimkenSteel specializes in the production of special bar-quality steels, seamless mechanical tubing and other alloy applications, while Timken focuses on bearings and power transmission products.