TimkenSteel Begins Construction of $40M Plant
CANTON, Ohio – TimkenSteel has begun construction on an advanced quench-and-temper facility in Perry Township that will produce more valued-added steel for demanding applications, the company announced today.
The $40 million plant will be fully operational next year, Timken said. It will perform heat-treat operations and have capacity for 5 0,000 process-tons annually of 4-inche to 13-inch bars and tubes. The plant will be built on the site of Timken’s Gambrinus Steel Plant near its multiple existing quench-and-temper thermal treatment facilities.
The Stark County Port authority is serving as a financial vehicle for the project, the company said. Additional support was provided by Perry Township, Stark County and JobsOhio.
TimkenSteel creates tailored steel products and services for demanding applications. The company operates in six countries. In 2014 it posted sales of $1.7 billion.
Copyright 2021 The Business Journal, Youngstown, Ohio.