TimkenSteel to Invest in Continuous Heat Treat Operations to Serve Needs of Demanding Applications

News provided by

Jul 17, 2014, 09:20 ET

CANTON, Ohio, July 17, 2014 /PRNewswire/ -- TimkenSteel Corporation (NYSE: TMST, timkensteel.com), a leader in customized alloy steel products and services, today announced plans to open an additional continuous heat-treat facility in the U.S. to produce more value-added steel for demanding applications.

"Many of the applications we serve require higher performance steels that give our customers confidence as they push the limits of what's possible. This investment is foundational to our ability to grow some of our most unique and sophisticated product lines to meet those needs," said Shawn J. Seanor, executive vice president of Energy and Distribution. "Additional continuous heat-treat capabilities provide the flexibility to create more customized steels to serve energy and other markets that have a strong long-term outlook. That continuous innovation is a key part of our unique business model."

The company is evaluating locations for the continuous thermal heat-treat operations and plans to make that decision in the third quarter of 2014. The facility would be fully operational within two years and have capacity for 50,000 process-tons annually of 4-inch to 13-inch bars and tubes. It would be larger than each of the company's three existing thermal treatment facilities in Canton, OH. The investment is approximately $40 million.

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.

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"+) 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.

Logo - http://photos.prnewswire.com/prnh/20140130/CL55315LOGO

SOURCE TimkenSteel Corporation