|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
|
|
|
|
|
|
|
 |
|||||||
|
Editorial - August 2002 |
|||||||
|
More good news from the Timken Co. August 2, 2002 - During these times of downsizing and layoffs, the Timken Company’s announcement that it will invest some $16 million in its bearing plant here is a breath of fresh air. Two new lines of wheel-end package bearings began production in 2001, initially representing an investment of $16 million, later expanding to $20 million. The new expansion will add two more lines that will become operational in 2003. This isn’t old news. Timken will now put ANOTHER $16 million into this operation. The investment will double the plant’s capacity to make packaged wheel bearings designed to improve brake performance of SUVs. The new production equipment will mean 44 new jobs. Actually, they are saving old jobs, because Timken plans to fill them with existing personnel who otherwise would have faced layoffs. The new jobs will pay about $18 an hour. It’s exciting to hear Timken’s president talk about the company’s plans. “Here in Lincolnton, we’re seeing the future of the Timken Company,” CEO James Griffith said. He called the Lincolnton plant a “world center for manufacturing.” Our congratulations to the management and the workers at Timken that have made the plant a leader in the global industry. Lincolnton’s success rate and commitment to the community were part of what led Timken to award the projects. We also commend Lincoln County officials for encouraging this huge investment with local incentive grants. County commissioners adopted resolutions in June approving more than $250,000 in incentives. The incentives are spread out over five years. Time after time the Timken Co., based in Canton, Ohio, has demonstrated its value to the people of Lincoln County, not only in providing jobs, but in the millions in contributions to the community through the Timken Foundation. A recent example is the company’s $155,000 grant used to install lights on four fields at the Optimist Clubs park off Startown Road. When we boast about Lincoln County’s business environment we often mention the Timken Co. as a progressive, high-tech industry that is one of the county’s biggest employers with more than 600 workers on the payroll. Timken continues to make us proud with this recent announcement.
|
|||||||
|
© 2001 Lincoln Times-News |
|||||||
|
|