Bearings maker opens plants in India, China
Timken Co. said it will soon open two manufacturing plants in Asia, adding to its ability to serve aerospace and industrial markets.
Timken Co., which makes engineered bearings and alloy and specialty steel products, said it will soon open two manufacturing plants in Asia, adding to its ability to serve aerospace and industrial markets.
The Canton, Ohio, company plans to continue to ramp up production at the new plants, one in Chennai, India, that manufactures industrial bearings; the other in Chengdu, China, that makes aerospace and precision products. Timken said it now employs more than 4,500 poeple at seven plants in six Asian countries.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey