TimkenSteel Corp., Canton, Ohio, announces plans to invest $40 million to build an additional continuous heat-treating facility in the United States. The company is evaluating locations and plans to make that decision in the third quarter of 2014. The facility would be fully operational within two years, and would have capacity for 50,000 tons annually of 4-inch to 13-inch bars and tubes. It would be larger than any of the company’s three existing thermal treatment facilities in Canton.
TimkenSteel serves 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 combines high-performance material, industry-leading thermal treatment, proprietary machining processes, and responsive delivery capabilities.
“Many of the applications 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.”
