September 2, 2008
Timken Provides Repair Services for Steel Producer
The Timken Company (NYSE: TKR) announced today that it is providing industrial services to Sparrows Point, a fully integrated steel mill based in Baltimore.
As a full-service supplier to Sparrow's Point, Timken performs bearing repair, chock repair, roll repair and other lifecycle services for the steel producer. Timken provides service on approximately 50 different bearing part numbers for use in cold and hot steel mills at Sparrows Point.
Timken's bearing repair services have provided Sparrows Point like-new bearings at an average of 45 percent less than the cost of new bearings. Repair lead times also average 10 to 12 weeks compared to far longer lead times for new bearings due to strong global demand.
Sparrows Point is a subsidiary of OAO Severstal, one of the world's leading metal and mining companies.
About The Timken Company
The Timken Company (NYSE: TKR, http://www.timken.com) keeps the world turning, with innovative friction management and power transmission products and services, enabling our customers to perform faster and more efficiently. With sales of $5.2 billion in 2007, operations in 27 countries and approximately 25,000 employees, Timken is Where You Turn(TM) for better performance.