The Timken Company (NYSE:TKR) will supply JSW Steel Ltd. of India with bearings for its new cold-rolling steel mill as well as provide its MILLTEC™ rolling mill maintenance services after construction is completed. The two new contracts for bearings and services are valued at approximately $1.2 million.
JSW is adding the steel mill as part of its plans to increase annual production from a current 3.8 million tons to 30 million tons by 2010.
"JSW Steel has become an important Indian manufacturer and a valued customer for Timken as we continue to grow our business along with India's dynamic market," said David White, Timken's director of sales and marketing in India. "Timken customers around the world have long valued the engineering expertise and technical know-how that goes into our products. Now we are using that same expertise to provide complete solutions like our MILLTEC rolling mill maintenance services. Offering such services is one way we add value for our customers here in India and around the world.”
Timken first began working with JSW Steel in 2000 as a bearing supplier for its hot-strip mill at the Vijaynagar complex. In 2004, Timken began offering its customized MILLTEC services, which included responsibility for managing the roll-shop operation. Timken associates work on-site, applying the company's knowledge of friction management to increase operating efficiency.
When MILLTEC services first began at JSW, the hot-strip mill was experiencing significant bearing failures. The Timken team quickly worked with JSW on those problems to help improve productivity.
"Timken proved the value of its MILLTEC team, which identified the problem, suggested solutions and implemented a plan of corrective action," White said. "Our success to date shows that Timken is a key supplier that JSW can look to for all future projects."
About JSW Steel Ltd.
JSW Steel Ltd. is part of the O. P. Jindal Group, a $4 billion conglomerate that has diversified interests in mining, carbon steel, power, industrial gases and port facilities. JSW Steel Ltd. is engaged primarily in manufacture of flat products such as hot-rolled coils, and galvanized products. It has the largest galvanizing production capacity in India and is the largest exporter of galvanized products with a presence in over 74 countries across five continents.
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 $5.0 billion in 2006, operations in 26 countries and approximately 25,000 employees, Timken is Where You Turn™ for better performance.