Timken to invest $27 million in Asheboro plant

The Timken Company today announced plans to invest approximately $27 million in its Asheboro bearing plant in Randleman, N.C., enabling expanded manufacturing of tapered roller bearings, principally for industrial applications. Timken plans to add 50 new jobs and increase the size of the Asheboro-area plant by over 35 percent as part of the project.

Timken's facility near Asheboro, which opened in 1994, currently has 150,000 square feet of space and employs approximately 230 people. The expansion project will begin in early 2006 and is anticipated to take approximately 18 months to complete.