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December 10, 2007

Timken Joint Venture to Supply China's Wind Energy Market

The Timken Company, Canton, OH, is establishing a joint venture with Chinese heavy equipment manufacturer Xiangtan Electrica Manufacturing Co. Ltd. to manufacture ultra-large-bore bearings for main rotor shafts of multi-megawatt wind turbines.
 
The turbines are for the Chinese wind energy market. China has a goal of generating 30 million kilowatts of power from wind energy systems by 2020.
 
The joint venture will build a $38 million facility in Xiantan, in China's Hunan province. Construction will begin in 2008.
 
"Timken has continued to invest heavily in China since entering this country in 1992, and the joint venture with XEMC is the latest example of our commitment to meet the needs of Chinese customers as they participate in one of the most important economic expansions the world has ever witnessed," said Roger Lindsay, Timken's senior vice president for Asia.
 
The Timken Company had sales of $5 billion in 2006, operations in 26 countries and approximately 25,000 employees.

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