Timken continues growth with Lincoln Co. addition
The Timken Co.’s Lincoln County Plant is continuing its almost annual growth in investment with the addition of $7.1 million in equipment at the Iron Station plant.
The company plans to refit an automotive-bearing manufacturing line in the plant but doesn’t expect to add jobs in the process. Timken employs more than 950 at the Lincoln County facility.
In exchange for the additional investment, Lincoln County commissioners have granted Timken $98,500 in incentives, which will be paid over five years.
Tom Anderson, county board chairman, says the additional investment in the plant is a good indicator that Timken will continue to grow. “Such decisions by our existing industries indicate great promise for the future of Timken employees in Lincoln County” he says.
Pete Acker, chairman of the Lincoln Economic Development Association, says the Timken expansion “shows stability within their industry.”
Over the last seven years, Timken has added more than $70 million in expansions and investment at the Lincoln
County plant while adding 110 jobs. The plant makes ball-bearing assemblies to supply the automotive industry and other sectors.