{"id":395094,"date":"2020-12-08T07:03:39","date_gmt":"2020-12-08T12:03:39","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=395094"},"modified":"2020-12-08T07:03:39","modified_gmt":"2020-12-08T12:03:39","slug":"timken-launches-more-than-75-million-of-investments-in-wind-and-solar-energy-markets","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/timken-launches-more-than-75-million-of-investments-in-wind-and-solar-energy-markets\/","title":{"rendered":"Timken Launches More Than $75 Million of Investments in Wind and Solar Energy Markets"},"content":{"rendered":"
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Renewable energy now the company’s largest market and poised for continued growth<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n NORTH CANTON, Ohio<\/span>, Dec. 8, 2020<\/span> \/PRNewswire\/ — The Timken Company (NYSE: TKR; www.timken.com<\/a>), a world leader in engineered bearings and power transmission products, today announced more than $75 million<\/span> in capital investments through early 2022 to increase the company’s renewable energy capabilities across its global footprint. <\/p>\n

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“This has been a breakout year for us in renewable energy markets,” said Richard G. Kyle<\/span>, Timken president and chief executive officer. “Through both innovation and acquisitions over the last several years, we’ve become a leading supplier and technology partner in wind and solar energy and it’s resulting in record sales and a robust pipeline of opportunities. This latest round of investments represents our confidence in the future growth of our wind and solar business as the world continues to transition to renewable energy sources.”\u00a0\u00a0<\/p>\n

To serve Timken’s global renewable energy customers, the company has developed an extensive network of engineering and innovation centers and manufacturing facilities located throughout the U.S., Europe<\/span> and Asia<\/span>. Timken will use the announced $75 million<\/span> investment to:<\/p>\n