Timken's wind power bearing JV breaks ground in central China
Tue. October 28, 2008; Posted: 04:52 AM
CHANGSHA, Oct 28, 2008 (Xinhua via COMTEX) --
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PowerRating -- Leading US bearing producer Timken Company (NYSE:
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PowerRating) today breaks ground on a new wind energy plant in cooperation with Xiangtan Electric Manufacturing Co., Ltd. (XEMC), based in Xiangtan city of central China's Hunan province.
Timken and XEMC split the stake of the joint venture, Timken XEMC ( Hunan) Bearings Co., Ltd., by a rate of 80-20.
The joint venture, also based in Xiangtan, will produce high- performance ultra-large-bore bearings for large scale wind turbines, using advanced technologies of Timken, and the products will be solely for the Chinese market after formal production begins in 2010.
Timken believes that its alloy steel expertise, power-transmission design and precision manufacturing capabilities together with XEMC's leading position in Chinese heavy equipment manufacturing are well- positioned for China's rapidly growing wind energy industry.
Timken supplies a broad range of friction-management and power- transmission solutions to wind-energy markets, including cylindrical, integrated flexpin and large-diameter tapered bearings, as well as high-quality alloy steel components.
The Ohio-based company recorded sales of 5.2 billion US dollars in 2007, with operations in 27 countries and approximately 25,000 employees.
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