Timken Expands Manufacturing Footprint in the Americas

Rhea-AI Summary

The Timken Company (NYSE: TKR) has announced the opening of a new manufacturing facility in San Jose Iturbide, Mexico, for tapered roller bearings. This state-of-the-art facility utilizes advanced automation technologies, enhancing its capacity to deliver quality products to customers in the Americas and globally. Timken's investment reflects its commitment to regional manufacturing, with Latin America contributing over 5% to the company's sales. The company aims to leverage this facility to strengthen its global bearing leadership by providing improved service and value.

Positive

• New manufacturing facility in San Jose Iturbide, Mexico, for tapered roller bearings.
• Utilizes advanced automation technologies for improved product quality.
• Enhances capacity to serve customers across the Americas and globally.
• Latin America accounts for over 5% of Timken's sales, indicating growth potential in the region.

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• None.

NORTH CANTON, Ohio, Dec. 18, 2020 /PRNewswire/ -- The Timken Company (NYSE: TKR; www.timken.com), a world leader in engineered bearings and power transmission products, today announced the start of production at its new manufacturing facility in San Jose Iturbide, Mexico. The facility manufactures tapered roller bearings using the industry's most advanced automation and manufacturing technologies.  

"Our new facility builds on our manufacturing strategy to serve customers where they need us across the world," said Christopher Coughlin, Timken executive vice president and group president. "The San Jose Iturbide plant will use state-of-the-art technology and automation to achieve the high standards for quality and consistency we employ at all of our sites. It will help us advance our global bearing leadership by providing a high level of value and service for our customers in the region and globally."  

The San Jose Iturbide facility is the company's only manufacturing plant in Latin America and will serve customers across the Americas and globally. Timken established its presence in Latin America in 1944 and serves the region through offices and warehouses located in Argentina, Brazil and Mexico. Latin America now accounts for just over 5 percent of the company's sales.

About The Timken Company

The Timken Company (NYSE: TKR; www.timken.com) designs a growing portfolio of engineered bearings and power transmission products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $3.8 billion in sales in 2019 and employs more than 17,000 people globally, operating from 42 countries.

Media Relations:
Scott Schroeder
234.262.6420
scott.schroeder@timken.com

Investor Relations:
Neil Frohnapple
234.262.2310
neil.frohnapple@timken.com

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SOURCE The Timken Company

FAQ

What is the new manufacturing facility in Mexico by Timken (TKR) for?

The new facility in San Jose Iturbide, Mexico, is dedicated to manufacturing tapered roller bearings.

How will the new San Jose Iturbide facility impact Timken's (TKR) operations?

The facility will enhance Timken's ability to serve customers in the Americas and globally, utilizing advanced automation for quality.

What percentage of Timken's (TKR) sales comes from Latin America?

Latin America accounts for just over 5% of Timken's sales.

When did Timken (TKR) establish its presence in Latin America?

Timken established its presence in Latin America in 1944.