The Timken Co., a company that specializes in engineered bearings and power transmission products, says it is allocating more than $75 million in capital investments through early 2022 to increase the company’s renewable energy capabilities across its global footprint.
“This has been a breakout year for us in renewable energy markets,” says Richard G. Kyle, president and CEO of Timken. “Through both innovation and acquisitions over the last several years, we’ve become a major supplier and technology partner in wind and solar energy. This latest round of investments represents our confidence in the future growth of our wind and solar business as the world continues to transition to renewable energy sources.”
To serve Timken’s global renewable energy customers, the company has developed a network of engineering and innovation centers and manufacturing facilities located throughout the U.S., Europe and Asia.
Timken will use the announced $75 million investment to:
-Expand its LEED-certified manufacturing facility in Xiangtan, China, where it makes engineered bearings for wind turbines
-Continue to scale-up its production capacity at sites in Wuxi, China, and Ploiesti, Romania, where Timken manufactures engineered bearings for wind turbines
-Consolidate multiple sites into a new, larger campus in Jiangyin, China, to increase production capacity, broaden the product range and improve productivity for precision drives used in the solar energy market
Timken’s wind energy product portfolio includes engineered bearings, lubrication systems, couplings and more. Timken has been active in the wind market for more than 10 years and is now a critical design and manufacturing partner to many of the world’s largest turbine and drive manufacturers.
Photo: Timken’s landing page