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Economy and Business


Commitment to Canton is long term
Governor lauds Timken decision as part of a trend toward reclaiming Ohio's standing as a leading manufacturing center
by WKSU's TIM RUDELL


Reporter
Tim Rudell
 
CEO Ward J. "Tim" Timken, Jr. talks about plans, the future of Canton, and the shale gas boom
Courtesy of Rudell
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In The Region:

A $225-billion expansion of the Timken Company’s Faircrest steel plant near Canton is underway.

WKSU’s Tim Rudell says that will add 25 percent to Timken’s specialty steel capacity, and keep upwards of 400 jobs in Northeast Ohio.

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A jumbo-bloom vertical caster is about to make the skyline southwest of Canton taller. The massive device and related ladle refiner will soar 180 feet–the height of the 15-story Chase Tower a few miles away in downtown Canton—and burrow seven stories underground.  It will let the company handle much larger pieces of steel.     

CEO Tim Timken says new industrial needs, especially for Ohio’s shale drilling boom, drove the decision to build.

“We are very, very bullish on Sale. The early results off the wells in this part of Ohio that we are seeing are very exciting; and I think position the state of Ohio to be a competitive supplier of natural gas, but also have a very positive impact on the supply chain--all the way back through to guys like us.”

The decision also followed ratification of a new contract with the United Steelworkers in February and a nearly $20 million tax break from the state.  


Related Links & Resources
The Timken Co.

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