Timken Co., a leading producer of highly engineered ball bearings and specialty steel products, will expand its Timken Asheboro Plant in Randleman, N.C., creating 50 new jobs and investing $27 million over the next three years. The announcement was made possible in part by a $100,000 One North Carolina Fund grant.
The Timken Co., of Canton, Ohio, produces highly engineered ball bearings for industrial, automotive, aerospace and rail applications, as well as specialty steel products. Timken operates four manufacturing plants in North Carolina, employing approximately 1,300 people.
Timken will expand its 150,000 square foot Randleman plant to manufacture tapered roller bearings. While individual wages will vary, the average weekly wage for the new jobs will be $691 plus benefits, which is higher than the Randolph County average weekly wage of $537 plus benefits.
"The Timken Company is proud to continue its partnership with the state of North Carolina as we expand the Timken Asheboro Plant, our state-of-the-art facility in Randleman," said Michael C. Arnold, president of Timken’s Industrial Group. "North Carolina has the same commitment to encouraging business growth that Timken has to delivering increased value to its customers."
The One North Carolina Fund assists the state in recruiting and expanding quality jobs by providing financial assistance to businesses or industries deemed by the governor to be vital to a healthy and growing state economy. Through the use of this Fund, 17,000 jobs and $2 billion in investment have been created since 2001.
