Timken, the global leader in bearing and power transmission products, recently announced that it will invest more than US $75 million from now to the beginning of 2022 to enhance the capacity of renewable energy products in the global capacity layout.
"This is a year when we have made a major breakthrough in the renewable energy market. Through innovation and acquisition in the past few years, we have become a leading supplier and technology partner in wind and solar energy, which brings us record sales and continuous business opportunities. " Richard G. Kyle, President and CEO of Timken, said, "the latest round of Investment announced today shows that we are confident in the future growth of wind and solar business, as the world will continue to transform to renewable energy."
In order to serve customers in the global renewable energy industry, Timken has built a strong service network composed of engineering and innovation centers and manufacturing bases in the United States, Europe and Asia. The $75 million investment announced will be used to:
Continue to expand the manufacturing base in Xiangtan, China. The factory has advanced technology and obtained LEED certification, mainly producing fan bearings.
Further expand the production capacity of Wuxi manufacturing base in China and ployesti manufacturing base in Romania. The products of these two manufacturing bases also include fan bearings.
● integrate multiple plants in Jiangyin, China to build a new large-scale plant to further expand production capacity, expand product range and improve production efficiency. The base mainly produces precision transmission devices serving the solar market.
All the above investment projects will introduce advanced automation and manufacturing technology.
Timken's wind power product portfolio includes engineering bearings, lubrication systems, couplings and other products. Timken has been deeply engaged in the wind energy market for more than 10 years, and is now an important partner in the design and manufacturing field of many leading wind turbine and drive device manufacturers in the world.
Timken established its leading position in the solar industry by acquiring cone drive in 2018. Timken develops and manufactures precision motion control products to provide solar tracking system drive solutions for photovoltaic (PV) and photothermal (CSP) applications.
Mr. Kyle pointed out: "Timken's world-renowned ability is to help customers cope with the most difficult friction management and power transmission challenges, including relying on our advanced engineering and manufacturing technology to help produce the most efficient and reliable wind turbine and solar system in the world. Through continuous investment and technological progress, Timken will help the renewable energy industry improve efficiency and reduce costs, thereby promoting the development of solar and wind energy industries. "
Ask a quote for the latest price and one of our team members will respond as soon as possible. Fields marked with * are required.
