TimkenSteel Selects Northeast Ohio Site to Build $40 Million Facility

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Oct 08, 2014, 08:28 ET

CANTON, Ohio, Oct. 8, 2014 /PRNewswire/ -- TimkenSteel (NYSE: TMST, timkensteel.com), a leader in customized alloy steel products and services, today announced the decision to locate an advanced quench-and-temper facility in Northeast Ohio to produce more value-added steel for demanding applications.

"Our investment in additional value-added operations feeds growing sales of our most sophisticated product lines, which meet the needs of demanding applications in energy and other markets," said Shawn J. Seanor, executive vice president of Energy and Distribution. "Our decision to locate the new operation near our Canton facilities offers us operational benefits and comes after strong state and local support."

The $40 million facility, which will be fully operational within two years, will perform heat-treat operations and have capacity for 50,000 process-tons annually of 4-inch to 13-inch bars and tubes. It will be located in Perry Township on the site of TimkenSteel's Gambrinus Steel Plant near three existing thermal treatment facilities. Perry Township, Stark County and JobsOhio were instrumental in providing support for the project.

TimkenSteel's energy offerings serve global equipment manufacturers and service companies with customized products and services for their most demanding applications in down-hole tools and top-of-hole infrastructure. The company's integrated supply chain solution combines high-performance material, industry-leading thermal treatment, proprietary machining processes and responsive delivery capabilities.

TimkenSteel's products reach all corners of the globe to serve a diverse client base, including those in the oil and gas, automotive, industrial equipment, mining, construction, rail, aerospace, heavy truck, agriculture and power generation industries.

About TimkenSteel Corporation

TimkenSteel (NYSE: TMST, timkensteel.com) creates tailored steel products and services for demanding applications, helping customers push the bounds of what's possible within their industries. The company reaches around the world in its customers' products and leads North America in large alloy steel bars (6 inches+) and seamless mechanical tubing made of its special bar quality steel, as well as supply chain and steel services. Operating from six countries, TimkenSteel posted sales of $1.4 billion in 2013. Follow us on Twitter @TimkenSteel.

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SOURCE TimkenSteel Corporation