RICHMOND - Governor Mark R. Warner today made six job announcements totaling 834 new jobs across Virginia. The Timken Company, a maker of highly-engineered bearings and alloy steel, will invest $10.27 million to expand its Campbell County facility. The company will add production capacity to manufacture light-duty pickup truck and sports utility vehicle wheel-hub bearing assemblies, creating 50 new jobs. Virginia successfully competed against Tennessee for the project.
“Timken’s Virginia facility in Altavista is considered a star performer for the company,” said Governor Warner. “The plant has the in-house workforce expertise needed, and my administration and local officials worked together to make an expansion to the current facility possible. This project will create 50 new jobs for the region, as well as further diversify Timken’s customer base and create opportunity for continued growth.”
“Access to a strong, well-educated workforce and excellent infrastructure in a pro-growth business environment has been integral to our success in Virginia,” said John Plazak, plant manager. “We look forward to continuing our relationship with Commonwealth of Virginia, Campbell County and the Town of Altavista as we build on our strong record at this facility.”
The Virginia Economic Development Partnership worked with Campbell County and Virginia’s Region 2000 Economic Development Council to secure the project for Virginia. Governor Warner approved a $150,000 grant from the Governor’s Opportunity Fund to assist Campbell County with the project. The Virginia Tobacco Indemnification and Community Revitalization Commission also approved $125,000 in Tobacco Region Opportunity Funds for the project. The Virginia Department of Business Assistance will support the project with training assistance through its Workforce Services Jobs Investment Program.
“The success of Timken is critical to the growth of Campbell County and the Altavista area,” said Calvin Carter, Board of Supervisors, Altavista District. “We’re pleased to assist Timken with their expansion plans. This is Timken’s fourth expansion, and it illustrates how Campbell County companies can succeed and expand - helping to improve the quality of life for our citizens. In addition to being a great employer, Timken continues to be a vital civic community supporter.”
Headquartered in Canton, Ohio, The Timken Company (NYSE: TKR) manufactures highly engineered bearings, alloy steels and related products and services for automotive, energy and other industrial applications. The company operates in 27 countries, employs 26,000 worldwide, and had annual sales revenues of $4.5 billion in 2004.