CANTON, OH — Timken announced today it will close its Canton, Ohio, bearing manufacturing operations and move most of the production to other U.S. plants, the company said. The three Canton bearing plants employ 1,300 people. The company said its Canton-based steel operations will not be affected by this decision.
The closure follows a series of meetings with union representatives and associates from the Canton bearing operations to discuss strategies to make the plants more competitive. According to a press release from Timken, at the time of the meetings the company made clear that operations could not continue in their current form and that the company was willing to make the necessary investments to improve operations. Timken said the company and union were unable to agree on what changes were necessary.
According to the company, production at the Canton bearing plants has declined 27 percent over the last five years as the cost structure of the operations made it difficult to win new business.
Timken said details about the closure, including timing of the closure and the impact on employment, will not be available until the company has met with the union to discuss the closure.
For more information about Timken, go to: www.timken.com.
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