The Timken Company plans to invest approximately $35 million to install a high-volume, in-line forge press at its Faircrest rolling mill facility in Canton, Ohio.

This investment comes on the heels of the $50 million commitment in capital improvements initiated at the end of 2010 at the company's other steel facilities in Canton. The investments reflect the significant increase in demand Timken has seen for its high-performance steel across all markets.

Slated to begin operation in early 2013, the addition of the in-line forge press will generate value by increasing capacity, lowering costs through improved yield, expanding product capabilities to meet ultrasonic specifications that are more demanding and reducing cycle times for larger products.