Canton, Ohio-based TimkenSteel Corporation announced Thursday plans to open an additional continuous heat-treat facility in the US to produce more value-added steel for demanding applications.
"Many of the applications we serve require higher performance steels that give our customers confidence as they push the limits of what's possible. This investment is foundational to our ability to grow some of our most unique and sophisticated product lines to meet those needs," said Shawn J. Seanor, executive vice president of Energy and Distribution. "Additional continuous heat-treat capabilities provide the flexibility to create more customized steels to serve energy and other markets that have a strong long-term outlook. That continuous innovation is a key part of our unique business model."
The company is evaluating locations for the continuous thermal heat-treat operations and plans to make that decision in the third quarter of 2014. The facility would be fully operational within two years and have capacity for 50,000 process-tons annually of 4-inch to 13-inch bars and tubes. It would be larger than each of the company's three existing thermal treatment facilities in Canton. The investment is approximately $40 million.
