Timken, a global leader in bearing and power transmission products, participated in the intensive groundbreaking ceremony of a new project in Hunan Xiangtan High-tech Industrial Development Zone on March 15 to expand its Xiangtan manufacturing base. The centralized construction ceremony was held in the second phase of Timken’s Xiangtan manufacturing base.
Cao Jiongfang, secretary of the Xiangtan Municipal Party Committee and director of the Standing Committee of the Municipal People’s Congress, announced the official start of Timken’s Xiangtan manufacturing expansion project base. The Xiangtan Municipal Party Committee, Municipal Government, and leaders of Xiangtan High-tech Zone at all levels attended the ceremony.
Timken’s Chinese bearing manufacturer base was established in 2008. It mainly provides super-sized bearing products for the wind energy industry and can also meet the needs of heavy industries such as metallurgy and mining. Since the announcement of expansion investment at the end of 2020, the total investment in this expansion project will exceed 300 million yuan. After the construction of the new plant is completed, the building area of Timken’s Xiangtan manufacturing base will be expanded by 120%, and more large-size wind energy bearing production lines will be introduced to expand the product line and significantly increase production capacity.
“Standing in the first year of the 14th Five-Year Plan, Timken ushered in another milestone in the development of the Chinese market and opened a new chapter in the field of renewable energy.” Timken China President Yu Lan said, “From commercial operations to social responsibility, Timken has always adhered to the concept of sustainable development. We actively invest in renewable energy to help China deepen structural reforms on the energy supply side and promote the sustainability of the global energy system. Transformation.”
Xiangtan City is located in an important sector of Hunan Province, opening up and rising. It is the core area for the construction of the Chang-Zhu-Tan National Independent Innovation Demonstration Zone. It has abundant human resources and a solid industrial foundation. Xiangtan City attaches great importance to major project construction in promoting economic development and has created a good business environment for enterprises.
The Xiangtan manufacturing base is one of the eight manufacturing bases of Timken in China, which is of great significance to the development of Timken in China. Through this expansion, Timken will further build the Xiangtan manufacturing base into a world-leading production base. As one of the important nodes of Timken’s strong service network in the United States, Europe, and Asia, the base will also better serve customers in the global renewable energy industry.
Timken has been deeply involved in renewable energy for many years, and this segment has become one of the company’s most important growth engines. After more than ten years of hard work, Timken has become an important partner of many leading manufacturers of wind turbines and drive devices in the world. Through innovation and acquisitions, Timken has also stood at the forefront of solar tracking system transmission solutions.
At the end of 2020, Timken announced to increase its layout in renewable energy, investing more than 75 million U.S. dollars in this field to expand or integrate multiple factories in the field of renewable energy in China and Romania and introduce advanced automation and Manufacturing Technology. The expansion of Timken’s Xiangtan manufacturing base is one of the important links.
Through continuous investment and technological innovation, Timken is committed to helping the renewable energy industry reduce costs and increase efficiency, thereby promoting the development of the renewable energy industry. In the future, Timken will continue to work with partners from all walks of life to accelerate the promotion of higher-quality products and higher-level services to the global sustainable energy market, empower the sustainable transformation of the energy structure, and help customers deal with the most difficult frictions Management and power transmission challenges.