"The investment in the new Timken factory was 60 million dollars and the factory will have 120 employees", said Andreas Roellgen at the opening event of the Timken plant in Ploiesti.
The new unit's production activities will take place on an area of 15,000 square meters, Timken officials said. The American group Timken has been present since 1997 in the local production of bearings. In the year 2016, the US company traded 366 million lei (81.3 million Euros), up 2% over the year 2015 and reported a net profit of 58 million lei (12.9 million lei Euro), 9% higher compared to the profit of 53 million lei in 2015, according to ZF calculations based on data from the Ministry of Finance website.
Timken operates 63 factories around the world, including eight European production units in Italy, France, Poland, Romania and the United Kingdom. The company operates in 28 countries and has 14,000 employees. The Group designs, manufactures and markets bearings, transmissions, gearboxes, belts, chains and related products and provides reconstruction and repair services.
Group brands include Timken, Fafnir, Philadelphia Gear, Carlisle, Drives and Interlube. (source: zf.ro)
