The Faircrest plant makes specialty steel products. The expansion would increase its capacity and allow Timken to make a wider variety of products there.
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The Timken Co. has opened talks with the United Steel Workers in hopes of forging a new contract that would make a proposed $225 million expansion of its Faircrest steel plant in Canton possible. The union said talks were set to start today.CANTON, Ohio -- The Timken Co. and the United Steel Workers Local 1123 in Canton have opened a new round of contract talks even though their current pact doesn't expire until 2013.
Timken has said it is considering a $225 million upgrade to one if its steel plants, and it is trying to line up support from the state, local governments and its labor unions before it commits to the project.
In a written statement today, the company said it hopes to make the upgrade investment, "provided that the operating environment is conducive to such a financial commitment."
In a letter to its members, Local 1123 said Timken wanted "labor stability throughout the construction and start-up phase of the Faircrest expansion project."
The Faircrest plant makes specialty steel products. The expansion would increase its capacity and allow Timken to make a wider variety of products there.
The union said it has set aside time today for talks and is planning to meet with company officials throughout the week.
Strong steel sales have boosted Timken's earnings over the past two years, and the company has been struggling to meet customers orders. If approved, the Faircrest expansion would be the latest of several Canton-area plant upgrades in recent years.
